On December 27, 2024, BMI will hold an Extraordinary General Meeting to adjust its 2024 business plan targets.
Source: VietstockFinance
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The BMI Board of Directors proposes a 29% reduction in the 2024 pre-tax profit plan, from VND 377 billion to VND 268 billion. Accordingly, the minimum ROE and dividend payout ratio will also decrease to 7% from the initial 10% plan.
BMI’s management decision to adjust the annual profit target came after a 52% year-over-year decline in net profit for the third quarter to just over VND 51 billion.
BMI explained that many of its customers suffered losses due to Typhoon Yagi, resulting in a surge in compensation provisions for the period, negatively impacting third-quarter profit.
| BMI’s nine-month net profit over the years |
For the first nine months of 2024, BMI recorded a net profit of nearly VND 195 billion, down 23% from the same period last year. Compared to the initial plan, BMI has achieved only 58% of its profit target after nine months. However, compared to the adjusted plan, BMI has accomplished 82%.
Khang Di
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