Kinh Bac urban developer posts 83pct combined profit growth y-o-y

As announced by Kinh Bac Urban Development Joint Stock Co (KBC), ending 2010, the company gained over 1.108 trillion dong combined revenue, growing 83 percent against 2009′s.

In particular, in Q4 2010, KBC gained a net revenue of 172.6 billion dong and gross profit at 72.35 billion dong, down 58.37 percent and 68.97 percent against Q4 2009.

The company’s revenue from financial operations decreased from 178.6 billion dong in Q4 2009 to 36.21 billion dong while the financial costs and expenditures for merchandise increased strongly. So its net profit from financial operations fell to only 11.83 billion dong, falling strongly from the figure of 371.15 billion dong in Q4 2009.

Notably, in Q4, KBC gained 377.03 billion dong of other profit while in Q4 2009, it posted a loss of 50.6 billion dong.
However, the loss of 5.52 billion dong from its associated company dragged the company’s pre tax profit down to 383.34 billion dong.

After spending on corporate income tax and other expenditures, KBC’s after tax profit was 397.95 billion dong in Q4 2010 and the figure for the full year was over 1.108 trillion dong, growing 83 percent year-on-year with the earnings per share (EPS) at 3,824 dong.

Ending the trading session on February 23, KBC-coded shares gained 3 percent or 900 dong to close at 31,400 dong per share with a total trading volume of 167,240 shares being transferred successfully.

Early February, 2011, KBC also announced to start construction on a 100-storey Lotus building worth about $1 billion in Q1 this year invested by Kinh Bac Group (KBC).

This will be a multipurpose complex building including trade centre, gardens and six star hotel designed by Foster + Partners firm.

 

Category: Business