AsemconnectVietnam - MST Investment Joint Stock Company (code MST - HNX) recorded a profit of VND45.75 billion in the second quarter, accumulated in the first 6 months of 2023 a profit of VND46.1 billion, up 90.4% over the same period last year.

In the second quarter of 2023, MST Investment recorded revenue of VND331.57 billion, up 504.7 percent over the same period; profit after tax was recorded at VND45.75 billion, up 175.1% over the same period.
During the period, gross profit decreased by 76.8% over the same period, corresponding to a decrease of VND3.38 billion, to VND1.02 billion; financial revenue decreased by 82.1%, equivalent to VND20.17 billion, down VND4.41 billion; financial expenses decreased by 43%, equivalent to a decrease of VND3.96 billion, to VND5.25 billion; administrative expenses increased by 17.2%, equivalent to an increase of VND0.15 billion, to VND1.02 billion; and other profit recorded a sudden change of VND54.93 billion compared to the same period of negative VND0.19 billion, an increase of VND55.12 billion.
Thus, in the second quarter, profit mainly increased sharply thanks to the recording of other profits.
Explaining the sharp increase in profit in the second quarter of 2023, the Company said that it continued to perform large construction contracts from the previous year, and at the same time promoted the development of investment and trade segments, bringing great profits in the second quarter of 2023. Specifically, the profit of the Company's investment segment in the second quarter has just brought a profit, accounting for 70% of the profit proportion after finalizing the Imperia Duc Hoa project. The company's other activities such as construction and trade also went according to schedule and plan, bringing stable profits.
Accumulated in the first half of 2023, MST Investment recorded a revenue of VND541.06 billion, up 250.5% over the same period; profit after tax was recorded at VND46.1 billion, up 90.4% over the same period last year.
It is known that in 2023, MST Investment targets a total revenue of VND1,100 billion and profit after tax of VND86.72 billion. Thus, after the first half of 2023, MST Investment completed 53.1% of the yearly profit plan.
Besides thriving business, in the first half of 2023, the main business cash flow of MST Investment also recorded a positive 203.1 billion dong compared to the same period of VND138.2 billion. In addition, investment cash flow was negative VND176.9 billion and financial cash flow was negative VND27.97 billion.
As of June 30, 2023, the total assets of MST Investment increased slightly by 2.7% compared to the beginning of the year, to VND1,336 billion. In which, assets mainly for long-term financial investment recorded VND879.7 billion, accounting for 65.8% of total assets; short-term receivables were recorded at VND227.3 billion, accounting for 17% of total assets; long-term receivables were recorded at VND213.9 billion, accounting for 16% of total assets and other items.
In addition, in terms of capital, by the end of the second quarter, total short-term and long-term debt decreased by 14.4% compared to the beginning of the year, corresponding to a decrease of VND27.8 billion, down to VND164.6 billion and accounting for 12.3% of total capital (accounting for 14.8% of total capital at the beginning of the year).
N.Nga
Source: VITIC/ Tinnhanhchungkhoan