AsemconnectVietnam - Nam Viet - Navifico Joint Stock Company (code NAV) has just announced the Board of Directors' Resolution on business results for the first 8 months of 2024 and forecasts 9-month business results with total estimated profit of VND15.2 billion, completing 89% of the annual plan.

Accordingly, in the first 8 months of 2024, Navifico brought in more than VND58 billion in net revenue, reaching 79% of the annual plan (VND74 billion); financial revenue reached approximately VND9 billion, reaching 90% of the plan (VND10 billion) and total pre-tax profit reached more than VND14.2 billion, reaching 84% of the plan (VND17 billion).
It is forecasted that in the first 9 months of the year, NAV's net revenue will reach more than VND69 billion, down 32% year-on-year and completing 93.4% of the plan; financial revenue will reach more than VND9.1 billion, up 6%, equivalent to 91% of the plan; accordingly, total pre-tax profit will be VND15.2 billion, down 3% and completing 89% of the yearly plan.
Nam Viet Joint Stock Company, formerly Nam Viet Company, was established in 1963, operating mainly in the field of construction materials such as fiber cement panels, concrete structures, and tiles in the southern provinces, from Ninh Thuan to Ca Mau. In addition, the Company also targets the export market of wooden products to Europe, the US and Australia.
In the first half of 2024, Nam Viet brought in more than VND37 billion in revenue, down 45% compared to the same period last year; but after-tax profit doubled over the same period to more than VND11 billion.
Nam Viet said that the Company recorded financial revenue in the first 6 months of the year of nearly VND9 billion, nearly 4 times higher than the same period due to receiving 50% of dividends from its affiliated company, Saigon Development Corporation (NAV owns 34.49% of capital, equivalent to nearly VND11.5 billion), helping profits increase sharply.
N.Nga
Source: VITIC/Tinnhanhchungkhoan