Construction Development Investment Corporation (code: DIG) of Mr. Nguyen Thien Tuan has just announced its financial report for the fourth quarter of 2023 and the whole year of 2023.
Accordingly, in the last quarter of 2023, DIG's revenue reached VND 433.8 billion in net revenue, an increase of 11% over the same period and VND 66.3 billion in profit after tax, an increase of more than 1.3 times over the same period in 2022.
The reason why revenue only increased slightly but profit increased sharply was because DIC Corp's financial expenses and sales expenses in the fourth quarter of 2023 decreased sharply compared to the same period.
According to the report, DIG's revenue this quarter came from real estate business activities such as transferring apartments in the Gateway Vung Tau project; transferring CSJ apartments; transferring land use rights in the Nam Vinh Yen project; transferring unfinished houses in the Dai Phuoc project, Hiep Phuoc project and Hau Giang project.
Accumulated for the whole year, DIG's revenue reached 1,027.5 billion VND, down 46.2% over the same period. Of which, the real estate business contributed 545.2 billion VND (accounting for 53.1%), followed by the construction and installation sector with 169.8 billion VND (accounting for 16.5%)...
In 2023, DIG generated extraordinary financial revenue of VND 180.5 billion due to the sale of investments and a decrease in interest expenses of VND 176.1 billion. That is the reason why DIG's after-tax profit increased by 18% compared to the previous year, reaching VND 172.7 billion.
Notably, the amount of money customers have placed to buy real estate from DIG has suddenly increased sharply, from 245.9 billion VND at the beginning of the year to 2,250.5 billion VND.
Not only that, the amount of short-term prepayments from buyers also reached VND 1,764.9 billion, an increase of VND 300 billion compared to the first day of the year.
At the end of the trading session on January 30, DIG shares reached 26,950 VND/share.
Business News
The stock market has a number of other important events of listed companies.
* BFC: Binh Dien Fertilizer JSC ended the fourth quarter of 2023 with VND 2,200 billion in revenue, up 16%. Deducting cost of goods sold, gross profit reached VND 227 billion, up 24% over the same period; net profit was VND 36 billion, up 55% over the same period.
* SNZ: In the fourth quarter of 2023, Industrial Park Development Corporation recorded nearly VND 1,721 billion in revenue, an increase of 21% over the same period; net profit of more than VND 250 billion, 2.4 times higher than the same period.
* QCF: In the fourth quarter of 2023, GC Food JSC achieved 108 billion VND in net revenue, down 8%; net profit reached only over 2 billion VND, down 24% over the same period.
* VAB: The consolidated financial statements just announced, Viet A Commercial Joint Stock Bank's pre-tax profit in 2023 was over VND928 billion, down 16% compared to the previous year due to a sudden increase in credit risk provisioning costs. Notably, subprime debt at the end of the year was 40 times higher than at the beginning of the year.
* DBC: In the fourth quarter of 2023, Dabaco Vietnam Group Joint Stock Company recorded an 18% increase in net revenue over the same period, to more than VND 2,600 billion, but net profit was only VND 6 billion.
* TMP: Thac Mo Hydropower Joint Stock Company announced its consolidated financial statements for the fourth quarter of 2023 with negative results. Accordingly, revenue reached VND 219 billion, down 18%; net profit was VND 92 billion, down 34% over the same period.
* BAF: In the fourth quarter of 2023, BAF Agriculture JSC recorded more than VND 1,600 billion in revenue, down 25% year-on-year; net loss of VND 31 billion. This is also the first quarter BAF reported a loss since going public.
* ACC: Binh Duong Investment and Construction JSC ACC has just announced its consolidated financial statements for the fourth quarter of 2023 with net revenue of nearly VND 244 billion, up 30% over the same period; net profit of nearly VND 30 billion, up 12% over the same period.
* HUB: Thua Thien - Hue Construction Joint Stock Company has just announced its consolidated financial statements for the fourth quarter of 2023 with net revenue of nearly VND 100 billion, down 8% over the same period. Meanwhile, net profit reached nearly VND 16 billion, up 36%.
VN-Index
At the end of the trading session on January 30, VN-Index increased by 3.96 points (+0.34%) to 1,179.65 points, HNX-Index increased by 1.62 points (+0.71%) to 230.66 points, UpCOM-Index increased by 0.25 points (+0.29%), to 87.85 points.
According to KB Securities Vietnam (KBSV), VN-Index is likely to continue to be under pressure when approaching the old resistance zone around 1,185 (+/-10) points. Investors are advised to avoid chasing buys at early recoveries and only place partial trading orders when the index drops to the support zone near 1,150 (+/-5) points.
Beta Securities believes that although liquidity remains low due to the resting effect before the long holiday, there are signs of positive spread across many industry groups, which is a good signal supporting the short-term trend of the market in the days leading up to Tet.
Cash flow is still differentiated according to the announced business results of listed enterprises, as well as the prospects of enterprises in 2024 when investors have more information to evaluate.
Saigon - Hanoi Securities (SHS) commented that in the medium term, after the deep market decline in 2022, the market is moving towards a new balance and accumulating before expecting a new growth trend. The movements in recent times confirm that VN-Index is in the first uptrend of a wide medium-term accumulation channel of 1,150-1,250 points.
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