Construction company’s revenue up 34 per cent

Tuesday, Jul 24, 2018 17:21

An apartment complex being built by Coteccons. — VNS Photo Doan Tung

The Cotec Construction Joint Stock Company (Coteccons or CTD) announced revenue of VND8.3 trillion (US$360 million) in the second quarter of this year, up 34 per cent year-on-year.

This growth came mainly from construction contracts revenue, reaching VND8.28 billion, the company said.

During the quarter, post-tax profit of the company reached VND428 billion.

In the first half of this year, CTD’s revenue reached VND12.6 trillion while post-tax profit touched VND718 billion, reaching 45 per cent and 48 per cent of the yearly target, respectively.

By the end of June, total assets of CTD reached VND15.3 trillion, down VND550 billion compared to the beginning of the year. Notably, cash and cash equivalents fell by VND630 billion to VND586 billion.

Short-term financial investments, including 3-month deposits and bonds, dropped by VND430 billion to VND4.13 trillion.

Owner’s equity stood at VND7.6 trillion, up 4.1 per cent compared to the beginning of this year. Debts remained at VND7.7 trillion, down nearly 10 per cent year-on-year.

Inventory value was VND1.9 trillion, including unfinished constructions such as the office building complex in the Thu Thiem New Urban Area and the Hoa Phat Dung Quat iron and steel production complex.

On the stock market, the price of CTD shares stood at VND147,100 per share on Monday, and market capitalisation reached VND11.5 trillion. — VNS

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