Vingroup profits up 42 pct

By Dat Nguyen   October 29, 2020 | 08:38 pm PT
Vingroup profits up 42 pct
A real estate project of Vinhomes in Ho Chi Minh City. Photo by Shutterstock/NDQ.
Vingroup’s pre-tax profits rose nearly 42 percent year-on-year in the third quarter to VND3.6 trillion ($155 million) thanks to a surge in apartment and car sales.

Revenues of Vingroup, Vietnam's biggest private company, rose 14 percent to VND36 trillion on the back of a 70-percent increase in its main business, property development.

Vingroup’s manufacturing units saw revenues double to VND4.8 trillion.

Auto subsidiary VinFast achieved its highest monthly sales ever in September, selling 3,600 units at its 49 showrooms nationwide.

Smartphone manufacturer VinSmart was among the three top sellers in the country in the third quarter.

Vingroup’s pre-tax profit in the first nine months was up 3.7 percent year-on-year to VND9.73 trillion, but revenues fell 19.3 percent to VND74.8 trillion.

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