In its latest announcement, LICOGI 14 Joint Stock Company (L14 code) announced the Resolution of the Board of Directors approving the business plan for 2024 with a revenue of 178 billion VND, an increase of 7% compared to the previous year.
In 2024, L14 aims to achieve a total revenue of 178 billion VND, an increase of nearly 7% compared to the previous year. Of which, real estate revenue is about 20 billion VND, financial revenue is 20 billion VND, and the rest is revenue from construction and other activities.
L14 aims to increase after-tax profit by over 3% to 25 billion VND. The expected dividend rate is about 5%.
According to L14, in December 2023, the company won bids for 2 projects, including the Tuyen Quang – Ha Giang expressway (worth 122 billion VND) and the connection road for Mu Cang Chai (Yen Bai) to Noi Bai – Lao Cai expressway (worth 43 billion VND). These 2 projects will commence construction in 2024.
It is known that the Tuyen Quang – Ha Giang expressway project has a total length of 105 km, with 2 lanes, the section passing through Tuyen Quang is 77 km long, and the section passing through Ha Giang is 27.5 km long. The total investment capital is nearly 10,000 billion VND, with an expected completion date at the end of 2025. This expressway project mainly passes through complex hilly terrain.
Recently, the People’s Committee of Tuyen Quang province and Ha Giang province simultaneously sent a letter to the Prime Minister, proposing an investment plan for the Tuyen Quang – Ha Giang expressway project in phase 2, upgrading it to 4 lanes with an additional investment capital of over 9,000 billion VND.
Regarding the Nam Minh Phuong urban area project, Licogi 14 stated that it is still in the process of arranging compensation payments.
At the same time, Licogi 14 also announced that March 27th is the deadline for the list of shareholders participating in the annual General Meeting of Shareholders in 2024, which is scheduled to be held on April 26th.
In 2023, L14 achieved a revenue of 135 billion VND, a decrease of nearly 22%; after-tax profit reached over 24 billion VND, an increase of 27% compared to the previous year. It is worth noting that on December 27th, 2023, the company unexpectedly adjusted the business plan for 2023, with a total revenue of 156 billion VND, a 20% decrease compared to the initial plan; after-tax profit decreased from 25 billion VND to 20 billion VND.
Thanks to the adjustment, L14 was able to achieve 86% of the revenue plan and exceed the after-tax profit target set for the whole year of 2023 by 20%.
In the market, L14’s stock closed at 41,900 VND/share on March 1st.
