Tuesday, July 16,2024 - 18:57 GMT+7  Việt Nam EngLish 

City Auto (CTF) plans to increase profits sharply in 2024 

 Monday, June 24,2024

AsemconnectVietnam - City Auto Joint Stock Company (CTF code - HOSE) announced the 2024 General Meeting of Shareholders documents, the meeting is scheduled to be held on June 30 in Ho Chi Minh City.

In 2024, City Auto plans revenue of VND8,100 billion, an increase of 14.1% over the same period, expected profit after tax of VND80 billion, an increase of 81.6% compared to 2023 and dividends expected 7%.
Regarding business orientation, City Auto said it will continue to build appropriate and timely business strategies to increase competitiveness with other dealers; Focus on improving customer care and service quality to attract customers and expand market share; expand service program activities; Focus on implementing digital marketing through perfecting the company website, gradually deploying and promoting online sales; Seek business opportunities in new fields, expand business development of subsidiaries and affiliated companies.
In addition, City Auto also added that the Company will maintain its top position in market share of Ford and Hyundai car distribution in Vietnam; Expand business activities and distribution network, showrooms, and service stations to better serve customers, promote sales growth and business results.
In particular, in the second quarter of 2024, City Auto plans to put into operation two new Ford showrooms in Di An - Binh Duong (scale 4,000 m2) and Tien Giang (scale 3,000 m2).
In addition, returning to the submissions, City Auto submitted to shareholders a plan to pay dividends in 2023 in shares at a rate of 7%, corresponding to issuing an additional 6.26 million shares and deploying in 2024, after upon approval by the State Securities Commission.
Source: VITIC/Tinnhanhchungkhoan


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