After the first 9 months of the year, Khang Dien House brought in 3,241 billion dong of net revenue, up 74% over the same period and after-tax profit reached 771 billion dong, up 50% year-on-year.

Perspective project Khang Phuc – Tan Tao residential area. (Source: Khang Dien House)

Khang Dien House Trading and Investment JSC (Ticker: KDH) has just announced the third quarter of 2020 consolidated financial statements with net revenue of nearly 1,760 billion dong, 2.8 times higher than the same period. Most of the revenue in the quarter came from real estate transfer with more than 1,744 billion dong, 3 times higher than the same period.

COGS increased stronger than revenue (6 times higher than the same period) to 1,211 billion dong. However, KDH’s gross profit still increased 30% year-on-year to VND 544 billion.

KDH’s financial activities this period are better than the third quarter of 2019 with nearly 15 billion dong. Meanwhile, finance expense increased 2.7 times to nearly 22 billion dong, selling expense increased by 3.3 times to nearly 27 billion dong. As a result, after deducting expenses, KDH profit after tax reached more than 362 billion dong, up 22% year-on-year.

In the first 9 months of 2020, KDH brought in 3,241 billion dong of net revenue, up 74% year-on-year and after-tax profit of 771 billion dong, up 50% year-on-year. Compared to the plan, the business has achieved 94% of the revenue target and 70% of the profit target for the whole year.

As of September 30, KDH’s total assets reached more than VND 14,717 billion, an increase of 11% compared to the beginning of the period. In which, the main asset is inventory with the value of 7,081 billion dong (accounting for 48%); accounts receivable were over 3,600 billion Dong (accounting for 25%). The company has nearly 2,784 billion dong and cash equivalents, 2.3 times higher than the first period.

Most inventory in the period of the business is in progress of production and business with nearly 6,873 billion VND, mainly concentrated in Khang Phuc project – Tan Tao residential area (2,604 billion VND), Saphire Phu Huu ( more than 873 billion).

(Source: Quarter III / 2020 Consolidated Financial Statements Khang Dien House)

The enterprise’s liabilities increased by nearly 1,370 billion dong compared to the beginning of the period to more than 6,942 billion dong. In which, long-term debt increased sharply from 405 billion dong at the beginning of the period to over 1,206 billion dong.

Source: vietnambiz.vn – Translated by fintel.vn