Vinhomes Joint Stock Company (Code: VHM) has just released its consolidated financial statements for the first 6 months of 2020 with positive signals about profit in the first 6 months.
Recognized in the financial statements, accumulated in the first 6 months of this year, Vinhomes recorded net sales of goods and services reached 22,897 billion. Financial revenue of Vinhomes in the first 6 months reached 9,598 billion VND, an increase of 80.5% compared to the first half of last year.
According to Vinhomes, the total consolidated net revenue recorded in the first 6 months of 2020, including revenue from Vinhomes’ activities, business cooperation contracts (BCC) and project transfer activities is recorded as a financial income, reaching 35,610 billion VND, of which the revenue from real estate transfer was 34,061 billion VND, accounting for 96% of Vinhomes’ total consolidated revenue.
The total consolidated accounting profit before tax in the first 6 months of 2020 reaches VND 15,154 billion and the parent company’s accounting profit after tax reaches VND 10,602 billion, up 13% and 8% respectively compared to the same period in 2019.
Earnings per share (EPS) in the first 6 months of 2020 reached VND 3,223, an increase of 10% compared to the same period of 2019.
6-month profit of Vinhomes increased over the same period. Source: Financial statements
As of June 30, Vinhomes total assets reached VND 225,578 billion, owner’s equity reached VND 76,153 billion, an increase of 14% and 18% compared to December 31, 2019.
More information, in the second quarter of 2020, in the Northern market, Vinhomes has successfully launched many apartment buildings in Vinhomes Ocean Park and Vinhomes Smart City. In the South market, the Company has officially launched the low-rise subdivision of The Manhattan and The Manhattan Glory at the mega urban project of Vinhomes Grand Park.
In addition, Vinhomes launched Vinhomes Online online sales platform in early April – right in the stage of implementing social spacing, helping sales activities not stall in the system of showroom model houses temporarily closed, and the sales team was unable to meet the customer directly.
Construction activities are still carried out on schedule, despite a short interruption due to social order for early April, so the progress of handing over houses in three metropolises, Vinhomes Ocean Park, Vinhomes Smart City and Vinhomes Grand Park is expected to be guaranteed according to plan.
In June, for the first time, Vinhomes successfully organized the sale events in the form of “3 in 1”, combining on all 3 platforms: Organizing live, livestreaming online on the project Fanpage and ordering online real estate e-commerce trading floor.
The uniqueness of this new form of real estate trading has yielded impressive sales results. Typically, two buildings S1.08 and S1.07 in Sapphire 1 – Vinhomes Ocean Park project in turn set a successful transaction record, with nearly 50% and 60% of apartments sold in just over 60 minutes on sale.
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