HCMC bus station profit triples

By Tat Dat April 25, 2023 | 03:32 pm PT

The West Bus Station in HCMC. Photo courtesy of WCS

The West Bus Station, one of Ho Chi Minh City's biggest bus stations, said its first quarter profit almost quadrupled year-on-year to VND16 billion ($681,518) as fees collected from buses for using it and income from passenger services soared.

The West Coach Station JSC (WCS), which operates the facility, said revenues doubled to VND34 billion.

This year it expects to handle 8.8 million passengers, 30% more than last year. The number of rides has increased to 360,000.

The company said it still has a lot of vacant space and kiosks that no one is renting.

It plans to pay dividends of 20% or more, the rate it has maintained since 2020. It used to be known for its high cash dividends, including 400% in 2018 and 516% in 2019.

WCS closed at VND155,300 on April 24, among the highest price of any stock.