Deo Ca Traffic Infrastructure targets rise in revenue and profit

Tuesday, Apr 26, 2022 14:57

Deo Ca Traffic Infrastructure Investment JSC (HHV) targets a post-tax profit target of VND396 billion, an increase of 36 per cent year-on-year. Photo

Deo Ca Traffic Infrastructure Investment JSC (HHV) targets revenue of VND2.5 trillion (US$108.8 million) in 2022, up 35 per cent year-on-year.

The company also set a post-tax profit target of VND396 billion, an increase of 36 per cent year-on-year, according to the plan approved at its 2022 Annual General Meeting (AGM) on Sunday.

In 2021, HHV achieved VND981 billion, up 80.13 per cent year-on-year. HHV attributed the growth results to the promotion of construction and installation activities via the signing and implementation of bidding packages for Trung Luong My Thuan highway project, Cam Lam - Vinh Hao expressway.

Post-tax profit in 2021 also increased sharply compared to the previous year, reaching VND229.7 billion, 5.6 times higher than post-tax profit in 2020.

HHV's Board of Directors submitted to the general meeting the plan to pay dividends in 2021 in shares, with the payment rate of 91.87 per cent.

Regarding leadership, two members of the Board of Directors Ha Huy Hung and Tran Van The, were dismissed for personal reasons. Instead, Nguyen Huu Hung and Ho Quang Loi were elected to the Board of Directors for the 2019-2024 term.

HHV plans to allocate VND4 trillion to develop its projects. Of the estimate, VND2 trillion will be spent on Cam Lam - Vinh Hao project, VND450 billion for Trung Luong – My Thuan expressway phase 1, VND100 billion for the capital supplement of Deo Ca Group Joint Stock Company, VND100 billion for the Bac Giang – Lang Son expressway, VND370 billion for the payment for three office buildings in Lang Son, Ha Noi and Phu Yen, VND100 billion for the investment in machinery and equipment and the remaining VND880 billion will be reserved for expressway projects.

"As a member unit in the ecosystem of Deo Ca Group, HHV has demonstrated new resilience with important contributions with many roles, such as an investor, a constructor, especially in the management, exploitation and operation capacity, which are specialised capabilities that we have worked hard to build over the years,” said Ho Minh Hoang, HHV Chairman.

“In the context of escalating raw material prices, we still managed to secure capital to execute our projects on schedule.

“Learning from previous projects, when there is a fluctuation in material prices, businesses have connected and linked with suppliers, ensuring supply chain and price stability right from the beginning, negotiating prices of sand, cement, iron and steel with suppliers right from the start to stabilise prices during project implementation,” he said. — VNS

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