Highest net profit recorded in 2019

In 2019, Nam Long Group (HOSE: NLG) recorded a net profit of over VND 960 billion, the highest since its establishment.

The group Consolidated Financial Statement Q4/2019 reported a revenue of more than VND 1,221 billion, an increase of 50% over the same period last year after the handover of completed projects, including Flora Novia, Dao Nho and Valora Island villas. Gross profit margin in the last quarter of 2019 inched slightly over the same period, reaching over 39.4%.

In addition, NLG also received a profit of over VND 114 billion from the joint ventures, 12 times higher than the same period last year. Besides, NLG recorded a total other profit of over VND 244 billion, contributing to the VND 548 billion net profit in the last quarter of 2019, equivalent to 336% of the last quarter in 2018. 

As of 2019, although the total revenue dropped by 27% to VND 2,546 billion, the parent company's after-tax-profit was more than VND 960 billion, 26% higher than in 2018 and the highest figure achieved by the Group since establishment. NLG’s results in 2019 also slightly exceeded their target of VND 956 billion.

By the end of 2019, NLG's total assets was almost VND 10,790 billion, increasing by more than VND 1,000 billion compared to the beginning of the year, of which short-term assets accounted for 72%, equivalent to VND 7,782 billion.

By the end of the year, the total inventories increased by nearly VND 1,000 billion to VND 4,200 billion in which VND 1,700 billion belongs to Paragon Dai Phuoc project (Dong Nai); VND 971 billion belongs to Hoang Nam project (Binh Tan, Ho Chi Minh City) and more than 874 billion belongs to Long An project...

Nam Long has about VND 2,000 billion cash on hand while outstanding loan balance is reduced by 8% compared to the beginning of the year to VND 924 billion, in which VND 626 billion worth of bonds issued in 2018, maturing in 2025. Debt / equity ratio is only 0.16 times.

In addition, NLG has more than VND 1,800 billion of savings, including nearly VND 1,200 billion from short-term prepaid buyers and VND 694 billion of accrued long-term revenue.

(Source: Nam Long Group (Hose: NLG))