Tuesday, July 16,2024 - 19:56 GMT+7  Việt Nam EngLish 

Ricons expects VND7,000 billion consolidated revenue 

 Thursday, June 20,2024

AsemconnectVietnam - Ricons Construction Investment Joint Stock Company plans to submit to the annual shareholder meeting on June 15 a consolidated revenue plan of VND7,000 billion and after-tax profit of VND60 billion for the parent company's shareholders. The dividend rate in 2023 is 5% paid in cash.

In 2023, Ricons will achieve revenue of VND7,575 billion, reaching 126.3% of the plan. Profit after tax belonging to parent company shareholders reached VND79 billion, equivalent to 158% of the plan. EPS reached VND1,893.
Construction revenue still plays a key position in the company's production and business activities, bringing in VND7,278 billion, equivalent to 96% of total revenue. Gross profit of the construction segment reached VND171.2 billion, down from VND202.5 billion in the same period in 2022.
This number reflects the difficulty of the construction - real estate market. Financial activity revenue increases sharply from VND72.9 billion in 2022 to VND291.9 billion in 2023 and the profit from affiliated companies of VND23.2 billion is a positive contribution to Ricons' business results. In addition, by winning large bids at key national infrastructure projects, Ricons has somewhat acquired a relatively significant source of overlapping work.
Meanwhile, business management costs increased from VND161 billion to VND371 billion due to having to make provision for bad debts, showing that the picture of outstanding debt in the construction industry is still very alarming.
Total liabilities as of December 31, 2023 decreased by 6.6% compared to the same period in 2022, reaching VND5,404 billion.
Source: VITIC/Tinnhanhchungkhoan



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