Becamex IDC sees big jump in 2019 profit

Friday, Dec 13, 2019 16:13

A corner of the Viet Nam-Singapore I Industrial Park constructed by Becamex IDC in Binh Duong Province. — Photo

The Investment and Industrial Development Corporation (Becamex IDC) has estimated its total post-tax profit will beat the full-year forecast by 54.5 per cent.

The company forecast total post-tax profit will reach VND1.7 trillion (US$73.7 million). Meanwhile, revenue will only exceed the year’s plan by 1 per cent to touch VND5.8 trillion.

Becamex IDC targets its total revenue in 2020 at VND6 trillion and post-tax profit of VND1.76 trillion. The figures are up 3 per cent each from 2019 estimates.

The results will allow the company to pay an 8 per cent dividend for both 2019 and 2020.

Within this month, Becamex IDC will pour an extra VND706 billion into BW Industrial JSC to help increase the latter’s charter capital to VND4.9 trillion from VND2.65 trillion.

Its ownership in the joint venture will remain at 30 per cent of the capital.

Becamex IDC expects to cancel trading 1.03 billion shares on the Unlisted Public Company Market (UPCoM) and complete moving to the Ho Chi Minh Stock Exchange (HoSE) by the end of this year.

The company's shares (UPCoM: BCM) have advanced a total of 3.3 per cent in the last eight days to end Thursday at VND28,300 per share. — VNS

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