Kinh Bắc Urban Development Corporation (code: KBC) has announced its Q3/2024 financial statement, with a remarkable performance. The company’s revenue reached VND 950 billion, a 3.8x increase compared to the same period last year. After deducting expenses, gross profit stood at over VND 359 billion, 3.6 times higher than the previous year.
Financial income doubled year-on-year to VND 116 billion, attributed to increased interest income. However, financial expenses, selling expenses, and administrative expenses also rose during this period.
As a result, Kinh Bac Urban Development Corporation reported a pre-tax profit of VND 250 billion, 5.3 times higher than the previous year. Net profit attributable to parent company shareholders was VND 196 billion, a 39-fold increase year-on-year. EPS surged from VND 8 to VND 256.
For the first nine months of the year, the company’s revenue and net profit were VND 1,994 billion and VND 351 billion, respectively, down 58% and 82% year-on-year.
As of September 30, total assets amounted to VND 42,345 billion, a 26.6% increase year-on-year. Inventories accounted for the largest proportion of assets (31%), totaling VND 13,236 billion. These are the company’s production and business costs for ongoing projects.
Short-term and long-term receivables stood at over VND 12,000 billion. The company also holds over VND 9,500 billion in cash and deposits, an increase of nearly VND 7,000 billion since the beginning of the year. This substantial cash position earns Kinh Bac Urban Development Corporation over VND 1 billion in interest income per day.
Equity reached VND 20,618 billion, including nearly VND 5,300 billion in undistributed post-tax profits. Financial borrowings were nearly VND 6,000 billion, with over 90% being long-term debt.
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