(Nguoiquansat.vn) Vingroup's (VIC) preferred contractor experienced a threefold increase in profit during the fourth quarter of 2024

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In 2024, Vingroup's partner (VIC) reported a 178% rise in after-tax profit compared to the prior year, attributed to heightened revenue from construction and installation projects.

HVC Investment and Technology Joint Stock Company (HoSE: HVH) has recently released its financial report for the fourth quarter of 2024, revealing net revenue exceeding VND 103 billion, an increase of 34% compared to the same period last year. After accounting for expenses, HVC reported an after-tax profit of VND 7.4 billion, which is 3.2 times greater than the profit recorded in the fourth quarter of 2023.

In 2024, the company's revenue and after-tax profit amounted to VND393.6 billion (an increase of 57% year-on-year) and VND30.6 billion (a rise of 178% year-on-year), respectively. Consequently, the company surpassed its revenue target of VND386 billion and its profit goal of VND30 billion. The company attributed its improved business results in 2024 primarily to a significant rise in revenue from construction and installation projects.

As of December 31, 2024, HVC's total assets amounted to nearly VND 694 billion, with cash rising by over 34.8% compared to the start of the year, totaling VND 107.7 billion. Long-term unfinished assets also saw an increase of more than 46%, reaching VND 178 billion.

On the opposite side of the balance sheet, HVC's liabilities amounted to VND142.6 billion, with short-term debt constituting VND28 billion. The undistributed profit after tax at the end of the period totaled VND97 billion, reflecting a 22.8% increase compared to the beginning of the year.

HVC Investment and Technology JSC is a premier company specializing in the design, construction, and installation of high-end entertainment equipment, particularly recognized for its projects with Vingroup Corporation (VIC).

In the northern region, HVC Group has undertaken significant projects including Vincom Lang Son, Vincom Thanh Hoa, Vinhomes Gardenia, and Vinhomes Skylake. Additional noteworthy projects comprise Vinhomes The Harmony Riverside Long Bien and Vinhomes Imperia Hai Phong.

In the Central and Southern regions, HVC Group is distinguished by Vietnam's largest ice rink located at Vinhomes Central Park and the most extensive water park in the South Central region at Vinpearl Land Hoi An. The company is also engaged in projects including Vincom Tay Ninh, Vincom Hung Vuong - Hue, and Vinpearl Da Nang.