AsemconnectVietnam - In the first half of 2024, Dong Nai Traffic Construction Joint Stock Company (code DGT) recorded VND 4.75 billion in profit after tax, completing only 12% of its annual profit target.

According to DGT's newly released financial statements, in the second quarter of 2024, the Company recorded more than VND73.5 billion in net revenue, an increase of nearly 29% over the same period last year. Of which, more than VND48.5 billion was revenue from selling stone; VND17.5 billion was revenue from selling construction materials; VND5.1 billion was revenue from renting premises, the rest was from other segments.
The cost of goods sold also increased by more than 23%, to VND 49.3 billion, leading to the company's gross profit reaching VND 24 billion, an increase of 41% over the same period.
This period, DGT's financial expenses decreased by more than 41%, to about VND6.9 billion. Business management expenses also decreased by 33.8%, to VND4.9 billion. Meanwhile, sales expenses increased by 44%, to approximately VND13 billion.
Notably, this period, DGT had other income of more than VND8.1 billion, while in the same period it was only VND555 million, but did not explain specifically.
As a result, DGT brought in VND3.26 billion in after-tax profit in the second quarter of 2024, (in the same period last year, it lost more than VND9.4 billion).
In the first half of 2024, DGT achieved VND162 billion in net revenue, an increase of 113% over the same period. Accordingly, after-tax profit from a loss of VND28.7 billion has turned into a profit of more than VND4.75 billion.
In 2024, DGT aims for net revenue of nearly VND449.3 billion and after-tax profit of more than VND39.4 billion. Thus, by the end of the first half of the year, DGT has only achieved 12% of the annual profit target.
As of June 30, 2024, DGT's total assets reached more than VND1,622.2 billion, a slight increase compared to the beginning of the year. Of which, cash and cash equivalents did not change much, at more than VND4.3 billion. Short-term receivables tended to increase by 5.5%, to VND1,228.4 billion. In contrast, inventories decreased by nearly 16%, to VND214.8 billion.
On the other side of the balance sheet, DGT still had more than VND617.6 billion in payables, an increase of nearly 2% compared to the beginning of the year. DGT's short-term and long-term debt alone are VND19 billion and VND242.4 billion, respectively.
N.Nga
Source: VITIC/Tinnhanhchungkhoan