Vinhomes' Jan.-June pre-tax profit jumps 13 percent

The real estate developer said revenue rising 33 percent to VND35.6 trillion ($1.53 billion). Converted revenue from sale of inventory properties in the first half of 2020 was VND34.062 trillion ($1.47 billion), accounting for 96% of the converted consolidated net revenue.

Earnings per share in the first half of 2020 was VND3,223, up 10% compared to the same period of 2019.

In second quarter, Vinhomes launched two apartment projects in Hanoi and villas and shophouses in Ho Chi Minh City.

Construction has been progressing on track, despite of a brief lockdown in the beginning of April due to the social distancing order, therefore the delivery schedule at the three mega projects Vinhomes Ocean Park, Vinhomes Smart City and Vinhomes Grand Park will proceed as planned.

The company received a license to develop part of an industrial park in a suburb of Hai Phong city. Vinhomes has been intensifying its focus on industrial real estate and plans to invest VND10 trillion ($432 million) in this segment in the next two years.

As of June 30, 2020, Vinhomes had a total consolidated asset of VND 225.577 trillion, and a total consolidated equity of VND 76.153 trillion, representing increases of 14% and 18% respectively compared to the balances as of December 31, 2019.