Viglacera Tower. — Photo vietnamfinance.vn

Construction materials company Viglacera Corporation - JSC (VGC) - recorded a sharp decrease in revenue and profit in the second quarter of this year.

VGC's financial report shows that its net revenue reached VNĐ2.71 trillion (US$110.5 million) in the second quarter of this year, down 31 per cent over the same period last year.

With the decrease in revenue, gross profit in the second quarter of this year also only reached VNĐ654 billion, down 46 per cent year-on-year.

At the end of the second quarter of this year, VGC reported pre-tax profit of VNĐ230 billion, down 71 per cent and after-tax profit of VNĐ171 billion, down 72 per cent.

Accumulated for six months, VGC's net revenue reached VNĐ5.35 trillion, down 20 per cent, mainly due to the decrease in revenue from leasing land with developed infrastructure.

Gross profit reached nearly VNĐ1.4 trillion, down 26 per cent, corresponding to a gross profit margin of 26 per cent.

VCG reported pre-tax profit of VNĐ574 billion at the end of the first six months, down 44 per cent and after-tax profit of VNĐ408 billion, down 47 per cent. — VNS