Profit of HVC Group (HoSE: HVH) increased 108% in the first quarter of 201902

HVC Investment and Technology Joint Stock Company (HOSE: HVH) announced the Q1 / 2019 consolidated financial statements with strong growth in revenue and profit compared to the same period last year.

Specifically, compared to the first quarter of 2018, revenue from sales and service provision increased by 103%; revenue from financial activities increased by 47% (in which all interests were bank deposits).

Financial expenses of HVC Group are not due to the use of owners' equity to implement projects. In the construction industry, HVC Group is one of the two stock registered businesses that do not use credit to implement projects.

Selling expenses of HVC Group decreased 78% compared to the same period last year, which is also a factor contributing to the growth of profit after tax in this quarter.

In the 1/2019 quarter, HVC Group signed many more valuable contracts such as: the water park project of the Cam Mountain Cable Car Resort (An Giang); Vincom commercial center project Cam Pha (Quang Ninh); Alma Resort - Thien Duong Bay Water Park Project (Khanh Hoa); VinCity Gia Lam project (Hanoi), ....

HVC Group projects signed contracts in Quarter I / 2019 (From left to right, from top to bottom: Cam Mountain Cable Car Resort (An Giang), Vincom Commercial Center Cam Pha, Grand VinCity project Gia Lam, Alma Resort Water Park Project - Paradise Bay (Khanh Hoa))

At the 2019 Annual stock holders General Meeting, the Company's leaders affirmed to continue aiming to become the Top 5 prestigious electrical contractors in Vietnam, continue to strengthen its leading position in the entertainment equipment industry. With the growth rate of this first quarter, HVC Group is confident to complete the 2019 plan.