VinHomes’ Q4 revenue surges 47%

08 Feb 2019

High-end Vietnamese property vertical VinHomes (HOSE: VHM) recorded a 47 percent year-on-year revenue increase to VND 16.4 trillion ($708 million U.S.) for the fourth quarter ended Dec. 31, 2018.

This brings the company’s annual revenue up 27 percent to VND 38.806 trillion ($1.7 billion U.S.). The site is owned by real estate developer VinGroup

Profit after tax amounted to VND 2.347 trillion ($101 million U.S.) for Q4. Revenue from selling its own properties increased 40 percent to VND 15.432 trillion ($666 million U.S.) during the three-month period.

Hanoi-based VinGroup Joint Stock Company, formerly known as TechnoCom, was launched in Ukraine in 1993. It shifted its focus to Vietnam in 2000.

Its competition in the country comes from MuaBannhaDatBatDongSan.com.vn, and Homedy.com..

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Tariq Ahmed Saeedi

Tariq Ahmed Saeedi writes stories on sharing economies in Asia – particularly Japan, Taiwan, Vietnam, Korea, Pakistan, Bangladesh and Iran. He joined the AIM Group in January 2016. Tariq is also a spotter, monitoring global marketplace industry’s updates. He carries more than 15 years of writing experience. Tariq frequently contributes economic/tech news and analysis to a daily The News International and a magazine. He has also written features and interview articles for various other publications and some of his write-ups have been cited for references in reports by the World Bank and archived in Florida Institute of Technology’s library. Tariq has also narrated corporate website content for Audi importer in Pakistan and others. He started his career from a television’s current affairs department in 2003 and later joined the country’s premier news agency Pakistan Press International.