AsemconnectVietnam - Coteccons Construction Joint Stock Company (HOSE: CTD) has just announced its consolidated financial report for the fiscal year 2023-2024 with important financial indicators of revenue and quarterly profit all growing compared to the previous year.

Specifically, at the end of fiscal year 2023-2024 (from the beginning of July 2023 to the end of June 2024), Coteccons achieved revenue of VND21,045 billion, an increase of 30.8% compared to the previous fiscal year and completed 118% compared to the old business plan (VND17,793 billion) and 105% compared to the newly adjusted business plan (VND20,000 billion).
Gross profit nearly doubled compared to the previous year, reaching VND712 billion, profit after tax increased by 343%, reaching VND299 billion, completing 109% and 104% of the old business plan (VND274 billion) and the new business plan (VND288 billion), respectively.
In 2024, Coteccons has a winning bid value of VND22,000 billion, which is a solid foundation for completing the production and business plan for the following year.
Notably, among the new projects, there are 41 projects from the results of the "repeat sales" strategy - projects that won bids/were appointed by old investors.
Coteccons said that this proves the right strategy of focusing on construction quality, taking good care of existing customers and promoting the "Own It" empowerment culture, which is a strength that is difficult to compete with other construction companies in the market.
In addition, Coteccons has also made efforts to gain the trust of new investors in projects such as: Pandora Factory, Suntory PepsiCo Factory, Westlake Residential, Legend City Urban Area, Logos Yen Phong BN 2 Factory, Eaton Park Residential Area, Sembcorp Logistics Park Thuy Nguyen, Da Nang East Apartment Area...
The business results report for the last fiscal year also showed that CTD's business management costs increased by 21% compared to fiscal year 2023, mainly due to the increase in provisioning speed of 51 billion to ensure a healthy balance sheet.
At the same time, to serve the strategy of diversification and investment in developing a talented team, ready to serve the needs of larger markets outside of Vietnam, Coteccons has increased its investment in human resource development by 26%.
Mr. Bolat Duisenov, Chairman of the Board of Directors of CTD shared that as a business trusted by investors, Coteccons never stops at safe growth but always strives for a compound annual growth rate (CAGR) of 20-30% per year and in fact, from 2023 to 2024, the Company has achieved a compound annual growth rate of 30.8%.
N.Nga
Source: VITIC/Tinnhanhchungkhoan