Vinhomes revenues double, but profits sharply down – VnExpress International


By Thuy Tien  &nbspApril 29, 2021 | 01:15 pm GMT+7
Vinhomes revenues double, but profits sharply down  Vinhomes revenues double, but profits sharply down - VnExpress International shutterstock12752875361 161966 9929 4555 1619665370

An apartment complex built by Vinhomes in Ho Chi Minh City’s District 1. Photo by Shutterstock/Saigoneer.


Property giant Vinhomes reported a 99 percent year-on-year rise in first quarter revenues to VND12.9 trillion ($564.6 million).

But pre-tax profits were down 30 percent to VND7 trillion due to rising selling expenses.

At the end of last year, the company had claimed to have 16,800 hectares of lands for residential and commercial projects.

It recently received approval from the government to develop the Dai An urban area in the northern province of Hung Yen, which will spread over 294 hectares, cost VND32.6 trillion and be completed in 2027.

It plans to complete and hand over three other urban areas this year, one in Hung Yen and two in Hanoi.

e.VnExpress

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Vinhomes revenues double, but profits sharply down – VnExpress International

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