Profit of Nam Tan Uyen Industrial Park decreased by 9% in the second quarter

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Accumulated in the first half of 2021, the profit after tax of Nam Tan Uyen Industrial Park reached VND 163.5 billion, equivalent to 72% of this year’s profit target.

Source: Financial report for the second quarter of 2021 NTC. (Synthesis: Hoang Huy).

Nam Tan Uyen Industrial Park Joint Stock Company (Code: NTC) has just announced its financial statements for the second quarter of 2021 with net revenue of 59 billion dong, up nearly 18% over the same period last year.

In the revenue structure of NTC, investment real estate business accounts for more than 43 billion dong, service provision revenue is nearly 16 billion dong. After deducting cost of goods sold (VND 17 billion), the company’s gross profit increased 29% to VND 42 billion.

In the quarter, NTC’s financial income recorded more than 28 billion dong, down 36% compared to the second quarter of 2020, mainly from reduced interest income and not recorded dividends as in the same period last year. This is also the main reason for Nam Tan Uyen’s profit after tax to decrease by 9% to 51 billion dong.

In the first half of the year, NTC’s revenue reached 123 billion dong and profit after tax was 163.5 billion dong, up 38% and 16% respectively compared to last year.

In 2021, NTC sets a target of total revenue of VND 742 billion and profit after tax of VND 226 billion. After 6 months, the business completed more than 17% of the revenue target and more than 72% of the profit target.

NTC’s assets as of June 30, 2021 were VND 4,263 billion, not much different from the beginning of the year. In the asset structure, it accounts for mainly long-term prepaid expenses (1,782 billion dong), short-term financial investments (1,143 billion dong) and long-term financial investment (621 billion dong).

The enterprise’s list of long-term unfinished assets by the end of the second quarter of 2021 recorded more than VND 213 billion, including expenses at housing projects in Nam Tan Uyen Industrial Park expansion; Existing Nam Tan Uyen Industrial Park; Expanded Nam Tan Uyen Industrial Park and expanded Nam Tan Uyen Industrial Park (phase 2).

NTC’s liabilities as of June 30, 2021 decreased by VND 341 billion compared to the beginning of the year, to VND 3,425 billion. In which, long-term unrealized revenue accounted for 2,952 billion VND. NTC said that unrealized revenue from leasing industrial park infrastructure will be gradually allocated to business revenue in the following years.

Regarding the progress of some NTC projects, as of June 30, 2021, the expanded Nam Tan Uyen Industrial Park has put into use and leased most of the area, while the wastewater treatment plant phase 2 and some roads and sidewalks are being completed. This project has a total investment of more than VND 491 billion, implemented since 2011.

For Nam Tan Uyen Industrial Park expansion phase 2, this project has completed some initial costs and cost of site clearance compensation. The total investment of this project is 872 billion VND, expected to be completed in 2022.

As for the extended Nam Tan Uyen Industrial Park housing area, this project has a scale of nearly 20 hectares, located in Tan Uyen ward, Tan Uyen town, Binh Duong. In which, the area for housing construction is 8.7 ha, the rest is commercial and service land.

Source: vietnambiz.vn – Translated by fintel.vn