Hoang Anh Gia Lai Joint Stock Co., the third-biggest company on the Ho Chi Minh City exchange, said it expects pretax profit to rise 14 percent this year. Its shares rose the most in more than two months yesterday.
The furniture and property company expects pretax income to reach VND1.15 trillion (US$66 million), chairman Doan Nguyen Duc said in a phone interview from his Pleiku town headquarters. The stock rose 4.9 percent to VND54,000, the most since December 30.
"This is the lowest target of our profit and if the market situation is favorable, the profit of the company will be much higher," Duc said yesterday.
The expected gain in profit may help the company as it plans to accelerate the construction of two luxury apartment projects, including the VND2.4 trillion Phu Hoang Anh estate and VND2.3 trillion Riverview development.
"Although the projects have not been completed, clients have registered to buy almost all the apartments and that will significantly contribute to this year's profit," he added.
The furniture and property company expects pretax income to reach VND1.15 trillion (US$66 million), chairman Doan Nguyen Duc said in a phone interview from his Pleiku town headquarters. The stock rose 4.9 percent to VND54,000, the most since December 30.
"This is the lowest target of our profit and if the market situation is favorable, the profit of the company will be much higher," Duc said yesterday.
The expected gain in profit may help the company as it plans to accelerate the construction of two luxury apartment projects, including the VND2.4 trillion Phu Hoang Anh estate and VND2.3 trillion Riverview development.
"Although the projects have not been completed, clients have registered to buy almost all the apartments and that will significantly contribute to this year's profit," he added.
Thanhnien News
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