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DIG’s 2024 Semi-Annual Business Results: A Review. Unit: Billion VND
Source: VietstockFinance
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After the review, DIG recorded a semi-annual revenue of over 635 billion VND in 2024, a 23% decrease (nearly 187 billion VND) compared to the self-prepared report. While the cost of goods sold also decreased, DIG’s gross profit still retreated by 29%, to nearly 109 billion VND.
The explanation between the two reports reveals that revenue from the company’s real estate business decreased by more than 77% (nearly 143 billion VND) after the review, to just over 42 billion VND. In addition, revenue from construction activities also decreased by 9% (nearly 44 billion VND) to nearly 466 billion VND.
DIG stated that revenue from real estate business in the first half of 2024 mainly came from the transfer of apartments at the Cap Saint Jacques (CSJ) project, transfer of unfinished houses at the Dai Phuoc and Hau Giang projects (Vi Thanh project).
On the other hand, DIG’s financial revenue increased by 27% to nearly 35 billion VND, due to accrued interest on term deposits.
Despite the improvement in financial revenue, profit before tax after the review still decreased by 55%, to nearly 22 billion VND. However, thanks to the deferred corporate income tax expense being refunded by nearly 10 billion VND, DIG’s net profit after the review only decreased by 5%, to nearly 9 billion VND.
Moreover, DIG’s net profit for the first half of the year reached only 4 billion VND (down 95%) and this result is just 0.5% of the target of 760 billion VND set for 2024.
Ha Le
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