FLC posts 231% profit increase between 2013 and 2014

FLC Group posted an audited aggregrate profit of VND454 billion (US$21.2 million) for the whole of 2014, an increase of 231 per cent over the previous year and VND22 billion ($1.02 million) higher than the unaudited financial report.

The group's turnover last year reached VND2.06 trillion ($96.2 million), an 18 per cent year-on-year rise, making its earning per share VND1,953.

FLC saw a breakthrough development last year because it has completed a capital-increase target and developed several big property projects, including FLC Garden City, FLC Complex 36 Pham Hung, FLC Star City and FLC Complex Thanh Hoa as well as investments in other sectors, such as industrial zones, build and transfer projects.

It targeted a profit of VND1 trillion ($46.7 million) this year with the sale of the projects outlined. FLC is expected to ask the shareholders' meeting to pay a bonus at 20 per cent of charter capital.

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