CÔNG TY CỔ PHẦN ĐẦU TƯ NAM LONG (HOSE: NLG)
Số 6 Nguyễn Khắc Viện, P. Tân Phú, Quận 7, TP.HCM
Điện thoại: (84.28) 54 16 17 18
Fax: (84.28) 54 17 18 19
Compared to the same period of last year, net sales of the company decreased by 13% to 871 billion VND following the transfer of 26-hectare Nguyen Son project in the second quarter of last year. This year, revenue was mainly contributed from core businesses, with the handover of Valora Fuji, Valora Kikyo and 36-hectare Long An townhouses at a total of 401 billion VND, accounting for 46% of sales revenue. The handover of EhomeS Phu Huu apartment, Flora Fuji totaled at 250 billion VND, accounting for 26% of the total revenue.
As the cost of goods sold increased by 7.8%, gross profit dropped to 363 billion VND. The gross margin/ net revenue reached a high level of 42%. The consolidated net profit came to 235.6 billion VND, or an average of 2.6 billion VND per day. EPS is at 949 VND.
For the first six months of this year, the company reported net revenue of 1,410 billion VND, increase 12% compared to same period last year. In the revenue structure, the sales of land, townhouses, villas and apartments of Nam Long grew significantly, exceeding 3.3 times the same period last year. Turnover from other services provided also increased, up 4.8 times.
Revenue from financial activities from the first six month was up by 52%, mainly from bank deposit interest (42.6 billion VND). However, the increase in expenses caused a 24% drop in net profit to VND298.5 billion. Equivalent EPS is 1,102 VND.
Nam Long has abundant cash flow and cash equivalents, totaled at 2.518 billion VND, up 21% from start of the year. In addition, the company has 113 billion investments held to maturity, up 1.9 times.
By the end of the period, the company’s total short-term and long-term loans is 1.026,7 billion VND. The debt/ equity ratio is 0.23 times. Ho Chi Minh City Securities Corporation (HSC) assesses the advantages of Nam Long as one of the few real estate firms with a very low debt ratio and is less affected by interest rate fluctuations than other enterprises in the same sector.
Undistributed net profit after tax worth 793 billion VND on chartered capital of VND2.099 billion.