Sacom Investment and Development Joint Stock Company (SAM Holdings), a telecom manufacturer and distributor, reported good numbers for the first quarter.

It has achieved revenues of VND481 billion (US$21 million), or 33 per cent of its full-year target.

Net profit was VND29 billion ($1.2 million), or 30 per cent of the target.

SAM attributed the high revenues to financial investment, which brought in VND94.5 billion ($4.1 million), 45 per cent higher than in the whole of last year.

The company said selling its stake in Hiep Phu Real Estate Company had yielded a profit of 66 per cent.

It is withdrawing from certain projects and plans to invest that money elsewhere for higher returns, it said. — VNS