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Construction firm Vinaconex sees revenue and profit down
The Viet Nam Construction and Import-Export Joint Stock Corporation (Vinaconex) saw both revenue and post-tax profit down in the third quarter this year, by 8.7 per cent and 29 per cent, respectively.
The company earned VND2.2 trillion (US$95 million) in revenue and VND185.4 billion in post-tax profit in the reviewed period.
The drop in profit, partly due to the decline in revenue, was also caused by a slump in financial income, which decreased by 56 per cent to reach VND54.45 billion. The joint ventures operation only brought in about VND10.5 billion for Vinaconex, down VND37 billion compared with the same period last year.
In the first nine months this year, Vinaconex recorded VND368 billion in post-tax profit, down 40 per cent compared to the same period of 2017, in which, post-tax profit of parent company reached VND274.3 billion. Earnings per share (EPS) for nine months reached VND621.
At the end of Q3, total assets of Vinaconex reached VND20.17 trillion, in which inventories accounted for VND3.39 trillion, short-term receivables were nearly VND4 trillion, down about VND250 billion compared to the beginning of the year.
Vinaconex’s debt stood at more than VND4 trillion, equivalent to 25 per cent of its capital structure.
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