Vingroup attains nearly US$11 million in revenue a day in 2017

By Quang A - Jan 31, 2018 | 11:07 PM GMT+7

TheLEADERVingroup’s total consolidated net revenue in 2017 was recorded at over VND90.3 trillion (US$3.98 billion) or otherwise equivalent to nearly US$11 million attained per day, up 56.8 per cent compared to 2016.

Vingroup attains nearly US$11 million in revenue a day in 2017
The Park Hill project contributes partially to Vingroup's fourth-quarter real estate revenue

Accordingly, net revenue in the fourth quarter reached nearly VND33.2 trillion (US$1.4 billion), a year-on-year increase of 44.6 per cent.

Vingroup has just released its financial statement for the fourth quarter of 2017. Accordingly, in 2017, the pre-tax profit reached VND8,915 billion (US$393 million) and after-tax profit reached VND5,440 billion (US$240 million), up 53.9 per cent and 54.9 per cent respectively compared to 2016.

In quarter IV, the group earned over VND3,988 billion (US$175.8 million) in pre-tax profit and VND 2,676 billion (US$118 million) in after-tax profit.

The revenue of real estate transfer in quarter IV reached VND24,512 billion (US$1.08 billion), a 38.1 per cent year-on-year increase since the large projects such as Park Hill, Vinpearl Phu Quoc, Vinpearl Nha Trang, Vinhomes Central Park, Vinhomes Riverside - The Harmony have been completed and handed over to customers.

Revenue from resort, recreation and entertainment services reached VND1,524 billion (US$67.2 million), an increase of 112.3 per cent compared to the same period of the previous year.

Revenue from retail, real estate for lease, education and other sectors in the fourth quarter of 2017 maintained at good growth.

As of December 31, 2017, total assets of Vingroup reached VND214,855 billion (US$9.47 billion), a 17.3 per cent increase compared to the end of 2016; Equity was estimated at VND 52,306 billion (US$2.3 billion).

On November 06, 2017, Vingroup’s member company, Vincom Retail Joint Stock Company which specializes in developing and operating Vincom shopping centers nationwide, was listed on the Ho Chi Minh City Stock Exchange with stock code of VRE and became one of the top 10 listed companies with the largest market capitalization.