AsemconnectVietnam - Saigon VRG Investment Joint Stock Company (SIP - HOSE) reported increased revenue but decreased after-tax profit in Q1/2026, due to a shortfall in financial revenue and pressure from increased financial, sales, and administrative expenses.

In Q1/2026, Saigon VRG Investment recorded revenue of VND2,164.79 billion, an increase of 11.5% compared to the same period last year; after-tax profit reached VND356.58 billion, a decrease of 11.4% compared to the same period last year. The gross profit margin remained at 16.5%.
During the period, gross profit increased by 11.5% compared to the same period last year, equivalent to an increase of VND36.82 billion, reaching VND357.03 billion. Financial revenue decreased by 16.6%, equivalent to a decrease of VND38.75 billion, to VND194.71 billion; financial expenses increased by 58.4%, equivalent to an increase of VND25.41 billion, to VND68.91 billion; selling and administrative expenses increased by 77%, equivalent to an increase of VND19.42 billion, to VND44.63 billion, and other activities showed insignificant fluctuations.
Thus, during the period, although gross profit increased, the net profit of Saigon VRG Investment still decreased by 11.5%, due to a shortfall in financial revenue, while also facing pressure from increased financial, selling, and administrative expenses.
In 2026, Saigon VRG Investment approved a business plan with projected total revenue of VND5,940.25 billion, an increase of 5% compared to the same period. Expected after-tax profit is VND874.18 billion, a 5% increase compared to 2025; and a minimum dividend of 10%.
Thus, ending the first quarter of 2026 with after-tax profit reaching VND356.58 billion, Saigon VRG Investment has completed 40.8% of its annual plan.
In terms of asset size, as of March 31, 2026, Saigon VRG Investment's total assets increased by 2.4% compared to the beginning of the year, equivalent to an increase of VND683.5 billion, reaching VND29,353.7 billion. Of this, the main assets recorded are VND11,537.9 billion in cash and short-term financial investments, accounting for 39.3% of total assets; and VND6,241.3 billion in investment properties, accounting for 21.26% of total assets. VND3,791.1 billion in short-term receivables, accounting for 12.92% of total assets; VND2,201.6 billion in long-term work-in-progress assets, accounting for 7.5% of total assets and other items.
N.Nga
Source: VITIC/Tinnhanhchungkhoan