Investors in Long Hau Industrial Park reported a 40% 🔴decrease in profit in the second quarter
LHG KCN
07/28/2023 07:13 (GMT+7)
The financial report for the second quarter of 2023 of Long Hau Joint Stock Company (HoSE: LHG) showed rather dismal business results as both revenue and profit 🔴decreased.
In the quarter, LHG recorded VND 66 billion in sales and service provision, 🔴down 42% compared to the first quarter of 2023 and 🔴down 71% compared to the same period in 2022.
Due to the cost of goods at VND 32 billion, the company only collected 34 billion dong in gross profit, down 40% over the same period.
Compared to the second quarter of 2022, the company's revenue from financial activities increased by 8 billion dong, at 17 billion dong; selling expenses increased by 1.2 billion dong to 1.7 billion dong; other expenses such as financial expenses and selling expenses decreased by 30 million dong to 3.5 billion dong and 545 million dong to 17 million dong, respectively.
While in the first quarter of 2023, LHG earned a profit of 4 billion dong from joint ventures and associates, this quarter the company lost 1.4 billion dong.
After deducting all expenses, Long Hau Joint Stock Company reported a profit of 24 billion dong in the second quarter of 2023, down 52% compared to the first quarter of 2023 and down 40% over the same period.
Accumulated in the first 6 months, LHG earned 182 billion dong in revenue, down 47% over the same period and 75 billion dong in profit after tax, down 15% over the same period.
At the 2023 Annual General Meeting of Shareholders, Long Hau set a revenue target of VND 902 billion, up 28.5% over the same period and expected profit after tax of VND 127 billion, down 37.7% over the same period last year. .
With the above results, by the end of fiscal year 2023, LHG has completed 20% of the revenue plan and 59% of the set profit plan.
As of June 30, 2023, Long Hau's total assets reached VND 3,032 billion, an increase of VND 25 billion compared to the beginning of the year, of which long-term assets accounted for VND 2,150 billion, mainly short-term financial investments. with 1,097 billion dong, inventory accounted for 637 billion dong with 610 billion dong being the construction cost of Long Hau industrial park.
Long-term assets accounted for 882 billion VND, an increase of 27 billion VND compared to the beginning of the year, of which investment real estate accounted for 492 billion VND, long-term financial investments accounted for 202 billion VND, including 103 billion VND invested in Lighting JSC. Ho Chi Minh City Public Company (Sapulico) and 99 billion VND to contribute capital to other entities
Total liabilities of LHG increased by 128 billion dong compared to the beginning of the year, from 1,549 billion dong to 1,421 billion dong. Short-term debt accounted for 965 billion VND, of which additional costs incurred to complete the infrastructure of residential land and industrial zones accounted for 602 billion VND. Long-term debt is at 583 billion dong, mainly 388 billion dong of deferred income tax payable.
On the stock market, at the end of the afternoon session on July 27, LHG shares were at VND 28,600/share.
Long Hau Joint Stock Company (LHC, HoSE: LHG) was established on May 23, 2006 in Long Hau commune, Can Giuoc district, Long An province. The founding shareholder is Tan Thuan Industrial Development One Member Limited Liability Company (IPC), Chairman of the Board of Directors is Mr. Le Tan Cuong, born in 1967.
Up to now, this company owns a number of industrial parks such as: Long Hau Industrial Park, Long An Province with a scale of 500 ha; Long Hau hi-tech factory area (Da Nang hi-tech park), scale of 29.6 ha
LHG KCN
07/28/2023 07:13 (GMT+7)
The financial report for the second quarter of 2023 of Long Hau Joint Stock Company (HoSE: LHG) showed rather dismal business results as both revenue and profit 🔴decreased.
In the quarter, LHG recorded VND 66 billion in sales and service provision, 🔴down 42% compared to the first quarter of 2023 and 🔴down 71% compared to the same period in 2022.
Due to the cost of goods at VND 32 billion, the company only collected 34 billion dong in gross profit, down 40% over the same period.
Compared to the second quarter of 2022, the company's revenue from financial activities increased by 8 billion dong, at 17 billion dong; selling expenses increased by 1.2 billion dong to 1.7 billion dong; other expenses such as financial expenses and selling expenses decreased by 30 million dong to 3.5 billion dong and 545 million dong to 17 million dong, respectively.
While in the first quarter of 2023, LHG earned a profit of 4 billion dong from joint ventures and associates, this quarter the company lost 1.4 billion dong.
After deducting all expenses, Long Hau Joint Stock Company reported a profit of 24 billion dong in the second quarter of 2023, down 52% compared to the first quarter of 2023 and down 40% over the same period.
Accumulated in the first 6 months, LHG earned 182 billion dong in revenue, down 47% over the same period and 75 billion dong in profit after tax, down 15% over the same period.
At the 2023 Annual General Meeting of Shareholders, Long Hau set a revenue target of VND 902 billion, up 28.5% over the same period and expected profit after tax of VND 127 billion, down 37.7% over the same period last year. .
With the above results, by the end of fiscal year 2023, LHG has completed 20% of the revenue plan and 59% of the set profit plan.
As of June 30, 2023, Long Hau's total assets reached VND 3,032 billion, an increase of VND 25 billion compared to the beginning of the year, of which long-term assets accounted for VND 2,150 billion, mainly short-term financial investments. with 1,097 billion dong, inventory accounted for 637 billion dong with 610 billion dong being the construction cost of Long Hau industrial park.
Long-term assets accounted for 882 billion VND, an increase of 27 billion VND compared to the beginning of the year, of which investment real estate accounted for 492 billion VND, long-term financial investments accounted for 202 billion VND, including 103 billion VND invested in Lighting JSC. Ho Chi Minh City Public Company (Sapulico) and 99 billion VND to contribute capital to other entities
Total liabilities of LHG increased by 128 billion dong compared to the beginning of the year, from 1,549 billion dong to 1,421 billion dong. Short-term debt accounted for 965 billion VND, of which additional costs incurred to complete the infrastructure of residential land and industrial zones accounted for 602 billion VND. Long-term debt is at 583 billion dong, mainly 388 billion dong of deferred income tax payable.
On the stock market, at the end of the afternoon session on July 27, LHG shares were at VND 28,600/share.
Long Hau Joint Stock Company (LHC, HoSE: LHG) was established on May 23, 2006 in Long Hau commune, Can Giuoc district, Long An province. The founding shareholder is Tan Thuan Industrial Development One Member Limited Liability Company (IPC), Chairman of the Board of Directors is Mr. Le Tan Cuong, born in 1967.
Up to now, this company owns a number of industrial parks such as: Long Hau Industrial Park, Long An Province with a scale of 500 ha; Long Hau hi-tech factory area (Da Nang hi-tech park), scale of 29.6 ha
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