Analyst Pin-board Updates on LDG
Huge financial gain from full divestment from Suoi Mo, while residential revenue dropped in the 1H 2019. LDG posted net revenue of VND 355 billion (+117% YoY) and NPAT of VND 198 billion (+1,058% YoY); respectively completing 11% and 33% of the year targets. Residential sales shrunk 29% due to modest handovers in the 1H, mainly from Viva City and Viva Square. Meanwhile, financial income of VND 150 billion resulting from the full divestment in Suoi Mo – its non-core subsidiary, made up a major part of earnings. More projects are expected to be handed over in the 2H 2019, including the remaining parts of Viva City, Viva Square, Viva Park, Marina Tower and Loc Phat. Procedures for High Intela and West Intela are supposed to be done by October in order to fulfill the land-use-rights obligation. LDG can thereby sign the official contracts in these two projects
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