(NLDO) - Quoc Cuong Gia Lai's fourth quarter 2024 profit increased by more than 400% over the same period due to the promotion of apartment sales to customers.
QCG shares of Quoc Cuong Gia Lai Joint Stock Company started the year of the Snake with 2 sessions of ceiling price increase, from 10,450 VND to 11,900 VND/share, to the surprise of investors. However, the trading volume of this stock was quite low, only about a few hundred thousand units per session.
QCG shares started to make waves from the last session before the Lunar New Year holiday, when there was some information about Quoc Cuong Gia Lai's positive business results.
Specifically, Mr. Nguyen Quoc Cuong, General Director of Quoc Cuong Gia Lai, said that the company's revenue and profit in the fourth quarter of 2024 increased sharply compared to the same period last year due to the promotion of apartment sales.
QCG stock price fluctuations in the past 3 months
Quoc Cuong Gia Lai achieved revenue of VND463.36 billion, up 262% over the same period; profit after tax of VND54.76 billion, up more than 400%. Accordingly, consolidated revenue and profit reached VND485.7 billion (up 213%) and VND63.18 billion (up 361%) respectively.
As of December 31, 2024, Quoc Cuong Gia Lai's total assets reached VND9,795 billion. Notably, businessman Nguyen Quoc Cuong's business recorded an amount of VND2,882 billion to be paid in the contract with Sunny Island related to the Phuoc Kien project. Accordingly, Quoc Cuong Gia Lai will have to return all of this amount to Ms. Truong My Lan.
The amount of cash and deposits of this enterprise increased 4 times, reaching nearly 115 billion VND; inventory was at 6,638 billion VND with almost all of the construction and site clearance costs of the projects.
In the most recent shareholder meeting, Mr. Nguyen Quoc Cuong said that he would try to handle the assets in the most profitable way, collect money to pay back Sunny Island Joint Stock Company (owned by Ms. Truong My Lan) to get back the documents of the Phuoc Kien project, which covers nearly 100 hectares. After that, the company will continue to look for other potential partners to implement the project.
Source: https://nld.com.vn/co-phieu-nha-quoc-cuong-gia-lai-lai-noi-song-196250204095951853.htm
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