Coteccons’s Board of Directors approved changes to the business plan for the fiscal year 2024 (from July 1, 2023 to June 30, 2024).
Compared to the initial plan, the consolidated revenue target has been increased from VND 17,793 billion to VND 20,000 – 20,500 billion, a corresponding increase of 12-15%. As for the after-tax profit target, it has been raised to VND 288-296 billion, an increase of 5-8%.
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CTD revises business plan for fiscal year 2024
Source: CTD
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Coteccons stated that the Company decided to adjust the business plan upwards after evaluating the positive results, continuing the growth trend in the first 9 months of fiscal year 2024.
By the end of March 2024, revenue was estimated at VND 14,400 billion and after-tax profit was estimated at VND 240 billion, achieving 81% and 88% of the plan, respectively.
In addition, the general contractor also disclosed a list of newly won contracts, with a total value of approximately VND 19,000 billion. Typical projects include the Suntory PepsiCo Factory in Huu Thanh Industrial Park, Long An; MIK Group’s Imperia Smart City – The Sola Park project, and the Mandarin Oriental villa project in Da Nang, …
At the end of March, according to information from the Thua Thien Hue Department of Planning and Investment, two investors have registered to implement the project for a commercial and service complex combined with housing, including land plots coded OTM4, OTM6, LK16, LK17, CC12, CX2 at the roundabout intersection of Vo Nguyen Giap – To Huu, including: a consortium of DOJI Gold – Silver – Gemstone Group JSC, DOJI Land Investment Co., Ltd., and Blue Star Real Estate Investment Co., Ltd.; Coteccons Construction JSC and Unicons Investment and Construction Co., Ltd.
DOJI and Coteccons “compete” for a nearly VND 4.8 trillion project in Hue
Previously, in February 2024, CTD completed the transaction procedures to acquire 100% of the contributed capital of Sinh Nam Metal Co., Ltd. (Vietnam) and UG Mechanical & Electrical Co., Ltd. (UG M&E). Notably, both are foreign-invested enterprises that have participated in the infrastructure construction sector.
Coteccons’s “open game” when acquiring two infrastructure businesses
