AsemconnectVietnam - In 2025, Saigon Real Estate Corporation (Saigonres, code SGR) expects to set a profit after tax target of VND365 billion, 3.5 times higher than the expected profit after tax in 2024 (VND104 billion).

In the recent Board of Directors Resolution, Saigonres drafted a business plan for 2025 with a total consolidated revenue of VND1,078 billion and a profit after tax of VND365 billion.
In addition, Saigonres also assigned the Board of Directors to achieve business results with a profit after tax in 2024 of VND104 billion. Thus, the expected profit plan for 2025 will be 3.5 times higher than this year's expected results.
In addition, Saigonres also set a target of total investment in 2025 of VND1,895 billion, an increase of 15% compared to the 2024 plan.
On December 23, 2024, Saigonres will finalize the list of shareholders to collect written opinions on the approval of the resolution of the General Meeting of Shareholders to change business lines and amend the Charter for the changed business lines. The expected time is in January 2025.
Saigonres also approved the termination of the operation of the Saigon Real Estate JSC branch - Real Estate Trading Floor from December 31, 2024.
Regarding the business situation, in the third quarter of 2024, Saigonres recorded revenue of nearly VND58 billion, more than 3 times higher than the same period; profit after tax reached VND42 billion, 2.2 times higher than the same period last year. In particular, gross profit margin improved from 24.6% to 78.4%.
In the first 9 months of 2024, the company brought in nearly VND118 billion in revenue, 2.5 times higher than the same period; but after-tax profit reached more than VND18 billion, down 61.5% over the same period, mainly due to SGR reporting a loss of nearly VND14 billion in the first quarter.
Previously, the Board of Directors of Saigonres approved a detailed plan to offer 20 million individual shares at 40,000 VND/share to raise VND800 billion, expected to be implemented from the fourth quarter of 2024 to the first quarter of 2025. If the mobilization is successful, the Company plans to use VND300 billion to pay off loans and VND500 billion to invest and finance the Viet Xanh ecological urban area project.
N.Nga
Source: VITIC/Tinnhanhchungkhoan