AsemconnectVietnam - Danang House Development Investment Joint Stock Company (code NDN - HNX floor) recorded a profit of VND2.05 billion in Q3, accumulated profit in the first 9 months of 2024 reached VND41.74 billion, down 78.6% over the same period.

In Q3/2024, Danang House recorded revenue of VND23.7 billion, down 57.8% over the same period, profit after tax reached VND2.05 billion, down 92.6% over the same period last year. In which, gross profit margin decreased from 53.5% to 48.4%.
During the period, gross profit decreased by 61.9% over the same period, equivalent to a decrease of VND18.59 billion, down to VND11.46 billion; Financial revenue decreased by 5.4%, equivalent to a decrease of VND1.48 billion, to VND25.83 billion; financial expenses increased by 49.8%, equivalent to an increase of VND10.38 billion, to VND31.22 billion; sales and business management expenses decreased by 37.3%, equivalent to a decrease of VND1.4 billion, to VND2.35 billion and other activities fluctuated insignificantly.
Thus, during the period, with a sharp decrease in revenue and a decrease in gross profit margin, Nha Da Nang recorded a sharp decrease in gross profit. In addition, the pressure of increased financial expenses led to a 92.6% decrease in Nha Da Nang's profit in the third quarter.
Accumulated in the first 9 months of 2024, Nha Da Nang recorded revenue of VND47.73 billion, down 87.1% over the same period, profit after tax reached VND41.74 billion, down 78.6% over the same period last year. It is known that in 2024, Nha Da Nang plans to have revenue of VND74.71 billion, down 85% over the same period and expected profit after tax of VND61.01 billion, down 72% compared to the implementation in 2023.
Thus, ending the first 9 months of 2024 with profit after tax reaching VND41.74 billion, Nha Da Nang has only completed 68.4% of the 2024 plan.
In terms of asset size, as of September 30, 2024, Nha Da Nang's total assets decreased by 3.6% compared to the beginning of the year, equivalent to a decrease of VND47.8 billion, to VND1,277.4 billion. Of which, the main assets recorded VND767.5 billion in cash and short-term financial investments, accounting for 60.1% of total assets; Short-term receivables recorded VND128.8 billion, accounting for 10.1% of total assets; inventories recorded VND91.95 billion, accounting for 7.2% of total assets; investment real estate recorded VND191.3 billion, accounting for 15% of total assets. It is known that in 2024, Nha Da Nang plans to have revenue of VND74.71 billion, down 85% over the same period and expected profit after tax of VND61.01 billion, down 72% compared to the implementation in 2023.
Thus, ending the first 9 months of 2024 with profit after tax reaching VND41.74 billion, Nha Da Nang has only completed 68.4% of the 2024 plan.
In terms of asset size, as of September 30, 2024, Nha Da Nang's total assets decreased by 3.6% compared to the beginning of the year, equivalent to a decrease of VND47.8 billion, to VND1,277.4 billion. Of which, the main assets recorded VND767.5 billion in cash and short-term financial investments, accounting for 60.1% of total assets; Short-term receivables recorded VND128.8 billion, accounting for 10.1% of total assets; inventories recorded VND91.95 billion, accounting for 7.2% of total assets; investment real estate recorded VND191.3 billion, accounting for 15% of total assets.
N.Nga
Source: VITIC/Tinnhanhchungkhoan