AsemconnectVietnam - After recording a loss in the first quarter of 2024, Saigon Real Estate Joint Stock Corporation (Saigonres, code SGR - HOSE) returned to profit in the second quarter, cumulatively in the first 6 months of 2024 recorded a profit of VND2.2 billion.

On June 28, Saigonres approved estimates of business results for the first 6 months of 2024 recording a total investment of more than VND52.1 billion, revenue of VND86.2 billion and pre-tax profit of VND2.2 billion.
It is known that in the first quarter of 2024, Saigonres recorded a negative pre-tax profit of VND13.2 billion.
Thus, the estimated pre-tax profit in the second quarter of 2024 is about VND15.4 billion, down about 68.3% compared to the realization in the second quarter of 2023 (the same period pre-tax profit reached VND48.59 billion).
Regarding business targets, in 2024, Saigonres plans a total investment capital of VND1,645 billion, an increase of 240.9% over the same period, expected revenue of VND628 billion and expected pre-tax profit of VND190 billion, an increase of 48.1% compared to implementation in 2023.
In particular, regarding business orientation in 2024, Saigonres plans to continue focusing capital to deploy investment in projects such as Van Lam - Binh Thuan housing project; Viet Xanh - Hoa Binh ecological urban area project; Cua Can - Phu Quoc housing and commercial service complex project; Phu Dinh Riverside Apartment project; Phu Hoi Commune Residential Area Project (Dong Nai); Le Sat and Tan Huong intersection project (Tan Phu); Cai Rang District Center Project (Can Tho City) ... and will also look for investment projects in provinces and cities with promise and potential for real estate development through direct investment, M&A, joint venture, association, investment cooperation...
N.Nga
Source: VITIC/Tinnhanhchungkhoan