Vinaconex profit up 28% in 2016

Tuesday, Feb 07, 2017 17:35

The head quarter of Vinaconex located at 34 Lang Ha Street, Dong Da district, Ha Noi. — Photo

Viet Nam Construction Import-Export Corporation (Vinaconex) posted after-tax profit of over VND670 trillion (US$350 million) last year, an increase of 28 per cent year-on-year.

The figure presented a rise of 95 per cent compared with the annual target of VND343.8 billion set by the shareholders and was also the highest rate achieved since the company was listed on the stock market in 2008.

The company’s total revenue in 2016 reached VND8.6 trillion, up 7.7 per cent against 2015.

As of the end of 2016, cash and cash equivalents were valued at VND1.8 trillion, 20 per cent higher than the beginning of the year. Of the estimate, demand deposits at banks reached nearly VND1.3 trillion, 40 per cent higher than the beginning of the year.

Inventory was valued at VND4.1 trillion, up VND1.3 trillion year-on-year due to the rise in production costs.

Total assets of the company by the end of 2016 touched over VND22.4 trillion, an increase of VND1.7 trillion compared with the beginning of the year, while equity reached VND7.4 trillion. — VNS

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