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.