SAM Holdings Corporation reports Q3 growth

Monday, Oct 02, 2017 10:27


SAM Holdings Corporation, formerly SACOM Investment and Development Joint Stock Company (SAM), reported that all business segments had reached strong growth in the third quarter of the year.

Though the company did not disclose detailed figures, it said that, as the third quarter ended, the wire and cable business had fulfilled the firm’s target for the entire year. During this period, revenue and profit jumped by 24 per cent over the same period last year.

SAM attributed the result to its re-structuring strategy, which helped them develop the capacity while cutting costs.

Orders from big companies like VNPT, FPT, Viettel and SCTV contributed to increasing the business in wire and cable, with exports of these products climbing.

The hospitality segment fulfilled 71.6 per cent of the annual target. In the first nine months, revenue from SAM Tuyen Lam, a company resort in Da Lat, jumped by 15 per cent over revenue for the entire year of 2016.

In terms of real estate, the company focused on apartment buildings at a mid-price.

In October, the company plans to open a showhouse of the Samsora Riverside project in Binh Duong Province, which will contain a total of 1,125 apartments in three buildings. The project is expected to be completed by the end of 2019. — VNS

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