Golf Long Thanh Records Nearly VND 15 Billion in H1 Separate Net Profit

The Long Thanh Golf Investment and Trading Joint-Stock Company reported a remarkable performance in the first half of 2024, with a net profit of nearly VND 15 billion, reflecting a significant surge of almost 33% compared to the same period last year.

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As of June 30, 2024, the Company’s total assets exceeded VND 22.1 thousand billion, a decrease of 4% compared to the same period last year. Payable debt increased by nearly 6%, to nearly VND 15.4 thousand billion. However, bond debt decreased by almost 32%, to over VND 1,000 billion.

Golf Long Thanh’s business results for the first 6 months of 2024

Currently, Golf Long Thanh has one bond lot in circulation, GLTCH2124001, with a value of VND 1,000 billion. The bond was issued on December 21, 2021, with a term of 36 months, maturing on December 21, 2024, at an interest rate of 9.5% per annum. On June 21, 2024, the Company used over VND 57 billion to pay interest on this bond lot.

On the other hand, the company’s bond debt significantly decreased compared to the previous year due to Golf Long Thanh’s full repayment of VND 500 billion in debt for 10 bond lots, from GLT.BOND01.2020 to 10.2020, in 2023. These bonds were issued on August 3, 2020, with a term of 36 months and matured in August 2023. The interest expense for these 10 lots in the past year was approximately VND 28 billion, based on an issuance rate of 10.5% per annum.

Thuong Ngoc

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