Faced with many business difficulties, Construction Development Investment Corporation - DIC Corp (Code DIG) has just announced the dissolution of 1 of 9 subsidiaries in its ecosystem.
Specifically, DIC Corp has just completed the dissolution of Ha Nam Development Investment Company Limited - DIC Ha Nam. According to the Resolution of the Annual General Meeting of Shareholders issued on April 22, 2021, DIC Ha Nam was merged into DIC Corp. After the merger, the number of companies related to DIC Corp will include 8 subsidiaries and 4 associates.
DIC Corp (DIG) revenue decreased, had to dissolve a subsidiary (Photo TL)
Regarding business results, recently DIC Corp has continuously recorded a decrease in revenue and profit due to the impact of the sluggish real estate market.
Revenue in the latest third quarter of 2023 reached VND 235.2 billion, down about 44.5% year-on-year. The company recorded gross profit of VND 66.9 billion, down 41% year-on-year. The corresponding gross profit margin remained at 28.4%.
During the period, financial revenue was recorded at VND10.8 billion, down 27.6%. At the same time, financial expenses also decreased by 2/3, down to VND11.6 billion. Selling expenses and business management expenses both decreased, recorded at VND46.6 billion.
After deducting all expenses, DIC Corp's after-tax profit was VND12.1 billion, an improvement over the same period last year. However, it should be noted that the company escaped losses partly thanks to a sharp cut in payable expenses. Business activities are still being affected by the market downturn as revenue has dropped sharply compared to the same period last year.
DIC Corp's accumulated revenue in the first 9 months of the year reached VND593.7 billion, down 60.9% compared to last year. Profit after tax decreased by 31%, down to only VND97.7 billion. Compared to the business target set at the beginning of the year, DIC Corp has only completed 10% of the annual profit plan.
Source
Comment (0)