Vinhomes reports 6-month pre-tax profit of more than $304 million

Vinhomes Ocean Park 2 - The Empire has achieved retail sales of VND49,073 billion equivalent to $2.1 billion. Unrecorded sales reached VND129,300 billion ($5.5 billion), up 127% compared to the end of the first quarter. This is a potential source of revenue expected to be recorded in the following quarters.

The construction of Vinhomes Ocean Park 2 - The Empire project is being well controlled according to the set schedule, ensuring the handover and revenue recognition at the end of the year.

However, because a number of subdivisions of current large projects including Vinhomes Ocean Park 1, Vinhomes Smart City, and Vinhomes Grand Park have not yet been handed over, the total consolidated net revenue converted to be recorded in the first 6 months of this year is down from VND18,946 billion ($811 million) for the same period in 2021.

Accordingly, the total consolidated accounting profit before tax in the first 6 months of the year reached VND7,142 billion ($305 million), and the consolidated accounting profit after tax of the parent company reached VND516 billion ($216 million), down 65% and 68% respectively compared to the same period last year period of the previous year.

Earnings per share in the first 6 months of 2022 reached VND1,160 ($0.04). The company's assets as of June 30, 2022, reached VND299,562 billion ($12.8 billion), with equity reaching VND129,348 billion ($5.5 billion), up 42% and 30% respectively from the previous year.

Source: VietnamFinance