(DTTCO) – NLG’s shareholders have approved the 2022 business plan, targeting revenue growth of VND 23,375 billion, net revenue of VND 7,151 billion and profit after tax of VND 1,526 billion.
Nam Long Investment Corporate (NLG) held its Annual Shareholders Meeting to report 2021 business results and approve the business plan, profit distribution and dividend payment plan for 2022.
According to the 2021 revised financial report, NLG’s annual revenue soared to VND 5,206 billion, 2.3 times higher than in 2020, and exceeded 5% of the plan. Gross profit was recorded at VND 1,778 billion, 2.7 times higher than 2020. The gross profit margin increased from 30% to more than 34%.
NLG’s shareholders have approved the 2022 business plan, targeting revenue growth of VND 23,375 billion, net revenue of VND 7,151 billion, profit after tax of VND 1,526 billion, and profit after tax of shareholders of the parent company of VND 1,206 billion. NLG’s Board of Directors also proposes to pay 10% in cash dividends in 2022.
To reach this goal, NLG will launch a series of townships including Southgate (Waterpoint phase 1, 165 ha), Mizuki (26 ha), Izumi City (170 ha), Akari (8 ha), Nam Long – Can Tho (43 ha), Nam Long Dai Phuoc (45 ha), etc. These projects are expected to bring NLG about USD 2 billion in sales in the next 3 years.
Sharing with shareholders, Chairman Nguyen Xuan Quang, said that NLG’s current assets total more than VND 23,618 billion and the company owns 681 hectares of land in good locations, ready to develop as well as ensure the development plan for the next 10 years.
NLG just received an investment of VND 1,000 billion (equivalent to 44 million USD) from IFC (under the World Bank) for Waterpoint phase 2 through the purchase of bonds issued by NLG.
Besides IFC, the list of NLG’s international shareholders and strategic partners includes many big names such as Nam Viet Ltd. (under Goldman Sachs), Ibeworth (Keppel Land group), Mekong Capital, and Dragon Capital.
At a project level, NLG has cooperated with companies that have extensive experience in international real estate such as Hankyu Hanshin, Nishitetsu Group, Gamuda, and Indochina Capital.
Source: saigondautu.com.vn
