AsemconnectVietnam - Lucky House Investment Services' after-tax profit has fluctuated over the years and peaked at VND141 billion in the first half of 2024, with only its liabilities remaining above VND5,000 billion as in recent years.

Lucky House Investment Services Joint Stock Company has just announced its periodic financial situation for the first half of 2024. Accordingly, as of June 30, 2024, the Company's equity was VND623.6 billion, an increase of 36.9% over the same period last year.
The debt/equity ratio decreased from 12.62 times in the first half of 2023 to 8.43 times in the first half of 2024, corresponding to liabilities at VND5,256.9 billion.
Bond debt/equity also decreased from 0.44 times in the first half of 2023 to 0.32 times in the first half of 2024, equivalent to a bond debt balance of VND199.5 billion.
Notably, in the first half of 2024, Lucky House Investment Services reported a profit after tax of VND141.6 billion, while in the same period last year, it had a loss after tax of VND11.3 billion.
Lucky House Investment Services' profit after tax fluctuated over the years and peaked at VND141 billion in the first half of 2024, with only payables remaining above VND5,000 billion as in recent years.
According to data from the Hanoi Stock Exchange (HNX), Lucky House still has outstanding debt on two bond lots. Specifically, the LUCKYHOUSE.BOND2020.02 bond lot was issued on August 28, 2020 with a term of 4 years, maturing on August 28, 2024. The total issuance value at par value is VND200 billion, with an interest rate of 10%/year.
Next, the LUCKYHOUSE.BOND2020.03 bond lot has the same issuance time, issuance value and interest rate but with a term of 5 years, maturing in 2025. In May 2021, the Company bought back VND200 billion (calculated at par value) of the above two bonds before maturity.
In addition, in 2020, Lucky House Investment Services also issued a bond lot with the code LUCKYHOUSE.BOND2020.01 similar to the above 2 lots but with a term of 3 years and was fully repurchased in December 2022.
The financial report of No Va Real Estate Investment Group Corporation (Novaland; stock code: NVL) recorded Lucky House as a subsidiary with an ownership ratio of more than 99%. Regarding Lucky House, the enterprise was established in 2018, operating in the real estate sector with a charter capital of VND300 billion.
Regarding the above three lots of Lucky House bonds, nearly a month after the issuance, Novaland's Board of Directors passed a resolution committing to repay the debt on behalf of Lucky House, in case this Company cannot guarantee its ability to repay the debt.
Most recently, on June 28, 2024, Lucky House Investment Service announced unusual information about the extension of the bond term LUKCYHOUSE.BOND2020.02. Accordingly, the bond term changed from 48 months to 72 months. Thus, the maturity date will change from August 28, 2024 to August 28, 2026.
N.Nga
Source: VITIC/Tinnhanhchungkhoan