IN kết quả xổ số FIRST QUARTER OF 2023, FECON’S NET PROFIT RECORDED NEARLY 3 BILLION VND, MANY TARGETS PROSPERED

According to kết quả xổ số newest published consolidated financial statements of kết quả xổ số first quarter of 2023, FECON recorded a net profit of VND 2.81 billion. This is a positive result compared to kết quả xổ số same result last year.

kết quả xổ số FECON’s after-tax profit recorded this result thanks to kết quả xổ số increase in net revenue and consolidated profit in period of 107,42 billion VND and 35 billion VND, respectively, an increase of 21,4% and 39,8% respectively over kết quả xổ số same period.

Also in this quarter, net revenue from FECON's sales of goods and services recorded 609 billion VND, an increase of 21% over kết quả xổ số same period last year. Meanwhile, kết quả xổ số cost of goods sold increased by only 17% over kết quả xổ số same period. In particular, in this quarter, FECON has significantly reduced sales costs by up to 22% (down more than 1.326 billion VND) compared to last year.

These factors have created a consolidated gross profit of up to 122 billion VND and a consolidated net profit of 3 billion VND above. All are showing positive results after a period of time when kết quả xổ số real estate and construction industry fell into depression.

Since 2022, kết quả xổ số cost of capital in some projects has increased compared to kết quả xổ số initial plan of many real estate and construction enterprises. kết quả xổ số reason is that kết quả xổ số price of raw materials fluctuates abnormally and labor costs increase due to kết quả xổ số impact of kết quả xổ số Covid-19 pandemic. It is expected that this development will continue to happen in 2023, so right from kết quả xổ số beginning of this year, FECON has developed response scenarios. This is reflected in kết quả xổ số bidding price, signing all contracts with investors and contractors of kết quả xổ số Group.

Currently, FECON is actively developing an action plan to complete kết quả xổ số business plan goal approved at kết quả xổ số 2023 Annual General Meeting of Shareholders. FECON builds these goals based on careful calculation, careful and following market developments. In kết quả xổ số coming time, with many favorable policies of kết quả xổ số Government when supporting businesses, genuine estate-construction enterprises to resume operations, FECON hopes to complete kết quả xổ số set goals soon.

As of March 31, 2023, FECON's total assets reached 7.872 billion VND, an increase of 4,03% compared to kết quả xổ số beginning of kết quả xổ số year, including short-term receivables of 3.939 billion VND, accounting for 43,1% of total assets. Shareholders' equity reached 3.495 billion VND, an increase of 12 billion VND compared to kết quả xổ số beginning of kết quả xổ số year.