Sacom Development and Investment Corporation (SAM) swung to a net profit of VND113.96 billion in Q2/2012 against a net loss of VND100.6 billion in Q2/2011.
The firm generated revenue of VND179.44 billion in the second quarter, up 13.15 percent on year, the firm said in its financial statements posted on the Hochiminh Stock Exchange (STC)’s website.
The firm reported net profit in the quarter after it recovered a provision for financial investments of VND45.34 billion and sold Dien Bien Phu Project with revenue of VND178.38 billion.
The company’s financial income reached VND4 billion in the quarter, down 74.14 percent on year.
In H1/2012, the company continued to post a net profit of VND158.62 billion on revenue of VND186.62 billion versus a loss of VND125 billion on revenue of VND286 billion in H1/2011, respectively.
At 10:38 July 27, SAM was being traded flat at VND8,400/share; or trailing P/E at -8.67x, the StoxPlus data showed.