Vingroup Group – Joint Stock Company (code VIC) has just announced its business results for the fourth quarter of 2016.
In the fourth quarter, Vingroup achieved revenue of VND 23,886 billion, up 66% over the same period last year. In which, real estate transfer revenue reached VND 18,471 billion, up 83%; revenue from hotel, tourism and entertainment business reached VND 1,184 billion, up 98%; revenue from education and hospitals increased by 31% and 27%, respectively.
In addition, supermarkets and convenience stores Vimart and Vinmart+ and VinPro recorded revenue from sales of VND 2,120 billion, up 21% over the same period last year.
Revenue increased sharply, but cost and expenses also soared, causing profit after tax in the fourth quarter to decrease by 18% over the same period last year, reaching VND 410 billion.
However, the total consolidated net revenue recorded in 2016 was VND 58,242 billion, up 1.7 times over the same period last year, while profit after tax reached VND 3,505 billion, up more than 2.3 times over the same period.
With this result, in 2016, Vingroup exceeded 30% of the revenue plan and 17% of the profit plan approved by the 2016 Annual General Meeting of Shareholders.
As of December 31, 2016, Vingroup’s total assets reached VND 179,806 billion, an increase of VND 34,251 billion; equity reached VND 44,581 billion, an increase of VND 6,996 billion compared to December 31, 2015.
