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Doing business in multi-sectors, vingroup yielded 217 billion per day

doing business in multi-sectors, vingroup yielded 217 billion per day

Vingroup (security code VIC) has just announced to its shareholders business information for the second quarter of 2017. Accordingly, total consolidated revenue for second quarter of 2017 was 19,538 billion dong, pre-tax profit reached 1,891 billion dong and net profit after-tax was 1,017 billion dongs.

Thus, Vingroup has a turnover of about 217 billion per day and yielded 11.3 billion of profit. Profit/turnover ratio was 5.2%.

Vingroup’s revenue in the second quarter increased by 10,270 billion dong, mainly from sales of real estate and retailing. Turnover of real estate transfer in second quarter reached 13,334 billion, up 202% compared with the same period.

Revenue from retailing sales, rental of real estate investment, services of hospitality, entertainment, medical, education all maintained a good growth rate with an increase rate of 17%-53% compared with the same period.

While profit of second quarter fell 37.8% over the same period last year as the group was still in the investment expansion period that made its operating costs soaring.

Vingroup achieved total revenue of 35,388 billion dong for 6 accumulated months, increase 43.5%. Meanwhile, net profit reached 2,260 billion dong, decrease 15.4% compared with the same period.

As of June 30, Vingroup’s total assets reached 192,790 billion, increase 12,339 billion compared to the end of 2016, of which the equity received 43,828 billion.

According to the Group in the second quarter, Vingpearl hotel and Vinpearl Land entertainment system has put into operation more 7 hotels, 1 golf course and two entertaining areas across the country, increase the total hotel capacity up to nearly 11,000 rooms, 3 golf courses and 5 entertaining areas stretching from the North to the South. At the same time, make Vinpearl brand present at 5 completely new tourist destinations: Hai Phong, Nghe An, Ha Tinh and Hoi An. (Quang Nam) and Cam Ranh (Khanh Hoa).

In the retailing sector, Vincom Retail continues to open eight Vincom Plaza and Vincom + shopping centers in seven provinces and cities, bringing the total number of shopping centers to 40 in 21 provinces.

~~>>Update on new information on the real estate news in Vietnam here: Vietnam real estate news

In recent years, Vingroup has promoted to invest in other industries other than real estate business. In particular, the corporation has invested strongly in agriculture, transportation, health care, education and retailing.

Recently, the group has disclosed plans to invest 100,000 billion in overhead railway projects in Hanoi.

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