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Tracodi (TCD) targets over $50m revenue this year
Transport and Industry Development Investment Joint Stock Company (Tracodi) has targeted a revenue of VND1.15 trillion (US$50.44 million) and an after-tax profit of VND77.1 billion in 2018.
The year-on-year increase would be five per cent and three per cent, respectively, revealed the company’s report preparing for the upcoming annual shareholders’ meeting on June 15, 2018.
In the revenue structure of 2018, the commercial segment is expected to account for the largest share, contributing some VND450 billion, followed by infrastructure and real estate projects with VND390 billion. The stone exploitation project with the joint venture Antraco is expected to contribute VND300 billion, the remaining will come from the labour export and training projects.
This year, Tracodi plans to invest in a high-rise apartment complex at No.89 Cach Mang Thang Tam, District 1, HCM City, which is also the headquarters of the company. The project has an area of 1,048sq.m with total investment capital of VND850 billion. Currently, Tracodi is carrying out procedures for investment approval.
The company’s board of directors also plans to pay dividends in 2017 at the rate of 10 per cent in shares, through the issuance of 3.4 million shares.
Tracodi has 28 years of operating history in many fields such as infrastructure construction, taxi transportation, quarrying and labor export.
In May 2017, the company listed 32.48 million shares on the HCM Stock Exchange at a reference price of VND16,000 a share.
Bamboo Capital is currently the parent company owning Tracodi’s 50.61 per cent stake.
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