Vincom retail real estate arm sees 40 pct profit surge

By Dat Nguyen   July 29, 2021 | 12:47 pm GMT+7
Vincom retail real estate arm sees 40 pct profit surge
A girl drives a bicycle past a closed Vincom Center in Hanoi on April 13, 2020. Photo by VnExpress/Ngoc Thanh.
Vincom Retail reported a 40 percent year-on-year rise in post-tax profits in the first half to VND1.17 trillion ($51.1 million).

The country’s biggest retail real estate developer saw revenues in the period rise 13 percent to VND3.74 trillion.

But in the second quarter they fell 7 percent year-on-year as social distancing was imposed in major cities due to Covid-19.

Vincom Retail operates 80 malls with 1.7 million square meters in 43 locations. It plans to increase this to 1.8 million square meters this year.

Its share (VRE) has been on a losing trend since January, falling by over 27 percent.

 
 
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