26/112018

DIC CORP’S PROFIT GAINED OVER VND224 BILLION AFTER THE FIRST NINE MONTHS OF 2018

DIC Corp has announced the financial report for the third quarter of 2018. As compared to the same period last year, all business indicators recorded impressive growth. .

Specifically, in Q3/2018, net revenue of DIC Corp reached over VND 533.9 billion, up 236% over the same period last year. Profit before tax was VND71.4 billion, increase 28% over the same period last year. In the first nine months of this year, DIC Corp's net revenue was VND 1,357.5 billion, rise 2.05 times compared to 2017 while profit before tax was VND224.6 billion, 2.27 times higher than the same period last year.

Besides, net sales in Q3/2018 increased by 236%, driven by real estate sales growth of 226% and service revenue growth of 569% in comparison with the same period last year. Real estate revenue mainly came from the transfer of the DIC Phoenix apartment project (Vung Tau City), land use right transfer of Nam Vinh Yen New Urban Area (Vinh Phuc province) and Dai Phuoc ecotourism project (Dong Nai Province).

Mr. Nguyen Thien Tuan, Chairman of DIC Corp, forecasted that the company's business situation will be higher in the fourth quarter. Due to the characteristics of the real estate business activities together with the increasingly demand for handover of apartments, land of customers before the Lunar New Year. At the same time, DIC Corp will complete its divestment in some companies also in this period.

Particularly, DIC Corp estimates that pre-tax profit will come in at VND225-275 billion, corresponding to pre-tax profit of VND450-500 billion, surpassing its target of 45% -61% . DIC Corp plans to submit a general meeting of shareholders approving dividend payment of 10-15% as planned. "The business targets for 2019 are forecast to increase by at least 15% compared to 2018 and maintain a dividend payout of 15%," Tuan emphasized.

On October 18, DIC Corp approved the decision to issue 47.6 million shares to existing shareholders at the price of VND 13,000 per share. The total amount of VND 619 billion was raised to invest in Long Tan Tourism Arban Area. This is the key project of DIC Corp in the next 3-5 years, located in Nhon Trach district, Dong Nai province. The plan to issue shares to existing shareholders has been approved by the General Assembly of Shareholders and is in the plan to increase charter capital of DIC Corp to VND3,000 billion in 2018.

On the morning of October 27th, the project of Vung Tau high-end apartment building by DIC Corp was officially launched. The event attracted over 1,700 customers and 1,000 apartments were successfully offered. This could be seen as a new mark of Vung Tau’s property market, bringing "significant" profit for DIC Corp.

Over 28 years in the field of real estate, DIC Corp’s project are always trusted because of its transparency and clarity, sustainable construction quality and especially the pioneering position in the creation of satellite urban. Following success of many condominiums on Vung Tau City such as Phoenix, Thuy Tien, Lakeside, Seaview etc, DIC Group continues to bring new opportunities for investment and residential developmenat with its high-end residential property project named Vung Tau Gateway.

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