The Industrial Park (IP) real estate segment still maintained well and contributed the majority to Viglacera’s total revenue in January 2023.

Overview of the briefing. Photo: VGC

At the January 2023 briefing, Viglacera Corporation JSC (HOSE: VGC) reported business operation results in January. Consolidated profit before tax of the Corporation exceeded 2% of the monthly plan, in which the parent company exceeded 16% of the monthly plan and fulfilled 35% of the first-quarter plan.

Similarly, January consolidated revenue of Viglacera and parent company exceeded 4% and 12% of monthly plan, respectively. Real estate and industrial park infrastructure leasing still maintained well and contributed the majority to the Corporation’s overall results; in contrast, building materials segment still faced difficulties in January 2023.

According to the plan in 2023, the building materials segment will be focused on developing and optimizing the southern market, reforming the management process and operating the apparatus more effectively, continuing to invest in glass, shower faucet, etc.

For the real estate segment, in the period of 2022-2023, Viglacera will survey and develop a number of new industrial parks in localities with favorable locations. By 2025, the Corporation will have increased the total number of industrial parks under the Viglacera brand name to 20 with over 10 new IPs and a total area of 2,000-3,000 hectares to develop the industrial park land bank.

Regarding the business situation in 2022, Viglacera’s net revenue reached over VND 14,594 billion (up by 30%); profit before tax was more than VND 2,320 billion (up by 51%) and net profit was nearly VND 1,747 billion, up by 43% compared to 2021.

At the 2022 Annual General Meeting of Shareholders, VGC is expected to gain VND 15,000 billion in revenue and VND 1,700 billion in consolidated profit before tax. Thus, the Corporation has exceeded 36% of the generating profit plan.

Source: Vietstock