Nam Long sets target profit at vnd 614 billion in 2018

2017 is considered as the breakthrough year for Nam Long as the result surpassed VND 756 billion after tax profit, nearly doubled the profit achieved in 2016, exceeding 15% of the preset profit target. In particular, the profit after tax of the parent company is VND 535 billion, up 55% compared to 2016. Especially, 2017 is the booming year for Nam Long share price as in April 2018, the value increased by 35% and liquidity increased by 52% y/y, EPS growth increased by 53%.

By the end of 2017, total assets of the company is VND 7,906 billion, up VND 1,700 billion compared to the beginning of the year. In the year 2017, Nam Long has launched nearly 3,000 products to the market, many of which customers made 100% deposit in the first introduction. Another significant milestone in 2017 is that two Japanese partners Hankyu Hanshin Properties Corp. and Nishi Nippon Railroad decided to invest in a 26-ha Mizuki Park project with total investment of VND 8,000 billion. Mizuki Park is a highlight of the Southern market in 2017 and will get more exciting in 2018.

First of Nam Long’s highlight events in 2018 is the sign up of its two Japanese partners, Hankyu Hanshin Properties Corp. and Nishi Nippon Railroad, to co-develop the project of Akari City (Hoang Nam) in front of Vo Van Kiet Boulevard with total investment of VND 7.676 billion in 50:50 proportion. The project will supply to the market 4,600 Flora apartments in the next three years. In addition, in 2018, Nam Long plans to provide 4,494 products of Flora, EHomeS, apartments, Valora townhouse / villa, as part of Nam Long’s urban area projects in Ho Chi Minh City, Can Tho and Long An ,i.e. Akari City, Mizuki Park, Waterpoint, Dallia Garden ...

Nam Long’s most special event in 2018 is the unlock of 355-hectare land fund in Waterpoint project, promising to create a real boom for the development of Nam Long in the future. During the meeting, Nam Long also submitted to shareholders 2018 business plan proposal in which Nam Long sets a target revenue of VND 3,855 billion, up 22%, profit of parent company of VND 614 billion, up 15% compared with 2017.

In particular, this meeting has approved the issue of new shares to increase the company's authorized capital via auction. Nam Long will also be the first joint stock company to conduct share auctions.

By: Namlonggroup