Vinaconex posts impressive growth in 2010

Vietnam Construction Export Import Joint Stock Corp (Vinaconex-VCG) has announced the business results in Q4 and the full year 2010 with impressive growths.

Particularly, in Q4 alone, VCG gained a net revenue of over 6.387 trillion dong, rising 20.3 percent from the same period in 2009.

However, the original cost rate on revenue in the reviewed period accounted for over 91 percent, up 6 percent year-on-year, so, the company’s gross profit fell 27.9 percent from 784.7 billion dong to 565.3 billion dong.

Vinaconex’s revenue from financial operations earned 251.7 billion dong, rising 97.1 percent from the same period in 2009 but the company’s net profit from business still fell 12 percent to reach 234.3 billion dong.

Also in Q4 2010, VCG posted a loss from other business sectors of 30.62 billion dong while in Q4 2009, its loss was up to 355 billion dong.

Accordingly, VCG’s after tax profit in Q4 2010 was 126.6 billion dong, of which the after tax profit of the holding company at 45.75 billion dong while in 2009, it posted a loss of 67.85 billion dong.

The company’s accumulated figures in 2010 were nearly 16.148 trillion dong of net revenue, up 23.7 percent year-on-year and after tax profit at 446.95 billion dong, including the holding company’s after tax profit of 202.9 billion dong, nearly 35 fold increase against 5.8 billion dong in 2009.

With 300 million shares are being traded on the stock market, VCG’s earnings per share (EPS) in 2010 reached 994 dong, up 31 percent year-on-year.

After the trading session on February 21, in accordance with the downtrend of the stock market, VCG-coded shares also slipped 1,400 dong or 6.2 percent to 21,100 dong per share with 1,667,700 shares being changed hands.

 

Category: Business