The southern bourse-listed Sacom Investment and Development Joint Stock Co (coded SAM) released the Q1 financial reports with net revenue of over 7 billion dong, equivalent to 6 percent of the same period last year, and consolidated profit of 633 million dong.
However, in the first three months of 2012, the company reported negative financial costs thanks to return of standby funds valued at 50.6 billion dong for short-term investment deals. Therefore, Samco enjoyed net profit of 44.65 billion dong, after tax profit of 44.65 billion dong, in comparison with Q1 last year loss of 24.4 billion dong.
Up to March 31, 2012, the company had total standby fund for long-term financial investment of 1.717 trillion dong. Samco has mainly made investment in subsidiaries valued at over 1 trillion dong.