Vinhomes Q3 profits jump 37%

By Minh Son   October 28, 2022 | 07:43 pm PT
Vinhomes Q3 profits jump 37%
A Vinhomes apartment complex in District 1, Ho Chi Minh City. Photo by Shutterstock/Evan_Unit01
Housing developer Vinhomes made consolidated pre-tax profits of VND18.949 trillion (US$764.1 million) in the third quarter for a year-on-year increase of 37%.

Sales exceeded VND30.7 trillion, up 35%, its latest financial statements show.

In the third quarter, the company began handover of 1,300 villas at a project in the northern province of Hung Yen and unveiled its latest project in the province.

Its debts accounted for 13% of its equity of VND140 trillion.

In the year to date, it earned revenues of VND110 trillion, or 92% of its full-year target.

Revenues and profits would remain high in the last quarter of this year and subsequent quarters as it delivers more villas and apartments.

Brand Finance, a global brand valuation consultancy, recently estimated the Vinhomes brand to be worth $2.38 billion.

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