Vingroup’s total value of assets reached $10 billion in June

By Viet Hung - Aug 01, 2018 | 08:26 PM GMT+7

TheLEADERVingroup's business sectors including real estate, retail, hospitality, education and health services achieved strong growth in the second quarter of 2018.

Vingroup reported total revenue of $1.4 billion in the second quarter of this year, increasing 63.3 per cent year over year. Its profit before tax was $154 million, up 90.3 per cent over the same period of last year.

By the end of last June, its total value of assets reached over $10 billion, up 13.3 per cent compared to the end of 2017.

Vingroup's turnover of real estate transfer in last quarter reached $1 billion, up 70 per cent compared to the same period of 2017, coming from its large projects such as Vinhomes Golden River, Vinhomes Central Park, Vinhomes The Harmony and Vinhomes Green Bay.

Vingroup's Vinhomes made consolidated net sales at nearly $233 million, increasing up to 203 per cent compared to same period of last year.

In the second quarter, Vinhomes introduced three new projects namely Vinhomes Star City in Thanh Hoa province, Vinhomes West Point in Hanoi and Vinhomes New Center in Ha Tinh province.

Retail sales of Vingroup in the second quarter reached $185 million, growing 45 per cent year over year.

Vincom Retail now has 51 trade centers operating in 28 provinces and cities nationwide and its total consolidated net sales reached $65 million, up 13 per cent year over year. Total value of its assets reached $1.5 billion.

It has been preparing for the launch of nine retail shopping centers in this quarter in Son La, Nghe An, Tan Binh (Ho Chi Minh City), Thai Nguyen, Nha Trang, Bac Ninh, Lang Son and Ha Nam, which helps its network reach 60 units in 34 provinces and cities nationwide.

In last quarter, Vingroup announced its participation in pharmaceutical field with VinFa brand and smartphone sector with VinSmart. It also purchased intellectual property rights from Spain's BQ company to develop two smartphones branded Vsmart in the high-end and popular segments.

VinFast recently signed a strategic partnership agreement with General Motors (GM) to become the exclusive distributor for the Chevrolet brand in Vietnam.