Vinpearl says net profit rose 13 percent

Vinpearl Tourism & Trading Joint Stock Co., owner of a resort, spa and amusement park in Vietnam, said net profit rose more than 13% in the first quarter as discount packages lured more tourists and costs were cut.

The company recorded a profit of VND11 billion (US$618,000) in the January-March period, according to an emailed statement Monday. Profit was VND9.7 billion in the same period last year, the company said in a separate statement.

“We have announced many tourist packages which fit the financial situation by offering discounts to stimulate tourist demand,” Chairman Nguyen Trong Hien was quoted in the statement as saying. To achieve that profit, the company also cut costs, Hien said without elaborating.

Revenues rose 3 percent to VND120.7 billion in the first quarter, according to the statement.

thanhnien, bloomberg

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