Illustrative image (Source: VinGroup)Hanoi (VNA) - Property and retailgiant Vingroup saw sharp increases in its earnings for 2016, according to thecompany’s post-audit combined financial report.
Vingroup said in its financial statement on March 28 that combined net revenuerose nearly 70 percent year on year to 57.6 trillion VND (2.52 billion USD) for2016, and post-tax profit jumped 134 percent to 3.5 trillion VND from 2015’snumber.
The sharp increases in the group’s earnings result from rising revenues acrossall of its brands such as Vinhomes, Vincom Retail and retail store chainVinmart and Vinmart .
Among those segments, property business sales value was nearly 37.3 trillionVND, a yearly increase of 76 percent; sales in hospitality, tourism andentertainment activities hit 4.25 trillion VND, a rise of 49 percent from 2015;and sales growth from other segments varied from 25 percent to 115 percentcompared to the previous year’s figures.
At the end of last year, Vingroup recorded total assets of 180.45 trillion VNDand total equity of 45.26 trillion VND.
In 2016, Vingroup introduced more than 30 real estate projects across thecountry, with major sites located in Hanoi, HCM City and Hai Phong.
The property and retail giant also launched the property brand VinCity, whichtargets middle-income customers. The new property project will be implemented inseven big cities and provinces, including Hanoi, HCM City, Hai Phong and NhaTrang.
In 2016, Vingroup also expanded its market coverage with 32 shopping centres,6,000 hotel rooms and 1,000 retail stores across the country.
In September 2016, Vingroup announced it had transformed Vinmec and Vinschoolunits into social companies, and committed profits from the two businesses tosocial development projects.-VNA
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