Long Hau Joint Stock Company (stock code: LHG) has just announced its financial report for the fourth quarter of 2023. In the last quarter, this industrial park real estate company achieved VND 145 billion in net revenue, an increase of 40.5% over the same period in 2022. According to the company's explanation, the fourth quarter revenue skyrocketed due to a sharp increase in revenue from leasing industrial park land compared to the same period in 2022.
However, net revenue for the whole year of 2023 will only reach 394.9 billion VND, down 37.2% compared to 2022.
In the past year, this business significantly reduced the cost of goods sold, so the gross profit margin improved from 40.8% in 2022 to 51.1%. In addition, financial revenue increased from VND 53.1 billion to VND 85.4 billion, equivalent to 60.8%.
However, other income last year was only about 5 billion VND, down 72.5% compared to 2023. Other expenses of the business remained almost unchanged compared to 2022.
After deducting expenses, the after-tax profit of this unit in the fourth quarter of 2023 reached nearly 62 billion VND, an increase of 89.5% over the same period. However, the profit for the whole year of 2023 only reached 166.5 billion VND, a decrease of 17.7% compared to the previous year.
As of December 31, 2023, the company's total assets were VND 3,055.7 billion, a slight increase of 2.2% over the beginning of the year.
Notably, short-term assets are at VND2,155.1 billion, equivalent to 70.5% of total assets. This enterprise deposits about VND946.3 billion in banks.
Thanks to that, in the fourth quarter of 2023, the company received 22.9 billion VND in interest on deposits, 2.4 times higher than the same period in 2022. On average, each day in the last quarter, the company received nearly 252 million VND in interest.
The financial revenue of this unit increased sharply in 2023, largely thanks to bank interest. The consolidated report for the third quarter of 2023 showed that deposit interest was VND 24.2 billion, VND 17 billion in the second quarter, and VND 16.1 billion in the first quarter.
In addition, the company also increased its cash holdings to VND244 billion, 2.8 times higher than at the beginning of the period.
At the end of 2023, Long Hau Joint Stock Company deposited nearly 950 billion VND in the bank (Photo: Financial Statements).
The company received VND 22.9 billion in interest from the bank in the fourth quarter of 2023 (Photo: Business Financial Statements).
At the end of the fourth quarter of 2023, this industrial park real estate enterprise had a debt of VND 1,460.7 billion, almost unchanged from the beginning of the period. Of which, short-term loans were about VND 54.3 billion and long-term loans were VND 126.7 billion.
Source
Comment (0)