After canceling listing at the end of 2013 to restructure, XMC's business has made many positive changes.
Xuan Mai Construction and Investment Joint Stock Co (XMC) has announced consolidated business results in the first 6 months of 2018.
As a result, the company's net revenue came to VND821 billion, up nearly 6% y / y. Both real estate and construction sectors posted growth of over 1% Turnover was VND 444.5 billion and VND 270.9 billion.
Gross profit increased slightly from 128.4 billion to 130 billion. However, pretax profit jumped 72% from VND13.8bn to VND23.8bn, mainly due to a sharp drop in management expenses from VND65.8bn to VND50.2bn. Profit after tax increased from VND 4.8 billion to VND 14 billion.
After canceling listing at the end of 2013 to restructure, XMC's business has made many positive changes. Since 2014, the business results of the company has continuously grown in recent years with the development of two main areas as general contractor for construction and real estate investment.
2017 is the first year after the XMC finishes the 3-year restructuring plan from 2014 to 2016. Both revenue and profit in 2017 reached a record high since its inception, reaching VND2,350 billion and VND130 billion, respectively. In 2018, XMC expects to continue double-digit growth with plans for VND2,667 billion in sales and VND141.4 billion in pre-tax profit.
According to the plan, in 2018, XMC will complete the legal procedures for the implementation of projects such as packaging projects, VOV office, Le Hong Phong project, Xuan Mai Thanh Hoa .... Production and sales of clusters are being implemented such as Paragon, Tincom, TT6 - Ecodream, Tan Thuan Tay - Saigon.
The size of XMC's equity has increased significantly after the company successfully sold 10 million shares to existing shareholders to increase its chartered capital to approximately VND500 billion. As of June 30, 2008, total assets and equity of XMC reached VND 3,949 billion and VND 665 billion, respectively.
In July, the company completed its capital increase of VND550 billion through the stock dividend payment of 10%.