Real estate enterprises find it difficult to gain much profit

Audited consolidated reports of 25 listed real estate enterprises by August 06 showed that none of them reached 500 billion dong of revenue and the highest profit was only nearly 65 billion dong.

On Hanoi Stock Exchange (HNX), according to VNDIRECT’s statistic, the highest revenue in H1/2012 belonged to Development Investment Construction Hoi An JSC (DIH) with 122.48 billion dong. Petroleum Dong Do JSC (PFL) held the lowest revenue in 6 months with 0.13 billion dong.

About profit after tax, Cholon Real Estate JSC (RCL) had the highest amount with 14.46 billion dong while Vinaconex Investment And Tourism Development JSC (VCR) had negative profit after tax with negative 7.2 billion dong.

In Hochiminh Stock Exchange (STC), the leading enterprise in revenue was Khang An Investment Real Estate JSC (KAC) with 470.28 billion dong. In contrast, the lowest place belonged to Construction And Investment JSC No 18 (CIG) with 23.68 billion dong.

With 66.44 billion dong, KAC also took a lead in accumulative profit after tax in 6 months in STC. IDICO – Petroleum Trading Construction Investment JSC (PXL)’s profit after tax was 0.14 billion dong. The lowest amount of profit after tax belonged to CIG with negative 4.88 billion dong.

Some big enterprises such as HAG, QCG did not show the positive signs. Hoang Anh Gia Lai Joint Stock Company (coded HAG) profit after tax in Q2 and H1/2012 respectively were 43 billion dong and 49 billion dong, down 77 percent on year. Meanwhile, with over 1.2 trillion dong of capital, the holding company Quoc Cuong Gia Lai JSC (QCG) only earned 2.14 billion dong of profit in 6 months. QCG’s profit after tax inQ2/2012 was only 361 million dong.

 

Category: Business