In a report submitted to the Hanoi Stock Exchange (HNX), Tap Doan Mat Troi Joint Stock Company (SHD) announced an after-tax profit exceeding 722 billion dong for the first half of the year. This figure represents a nearly three-fold improvement compared to the same period last year, averaging a daily profit of nearly 4 billion dong.
As of the end of June, the company's equity reached over 34,613 billion dong. Owner's investment capital accounted for more than 84% of this, demonstrating long-term commitment and resource provision from shareholders. The remaining portion comprises undistributed after-tax profits of over 3,370 billion dong, a significant increase from the previous period.
"Maintaining a robust capital base helps the company ensure stable financial capacity, creating momentum for breakthroughs as real estate projects complete investment and commence operations in the coming period," a company representative stated.
Simultaneously, the debt-to-equity ratio decreased to 1,82 times, which is not excessively high compared to other real estate businesses. The company added that projects currently raising capital for implementation are expected to generate strong profits in the near future.
Beyond the improved business results, Tap Doan Mat Troi's liquidity continues to strengthen and remains at a safe level. Specifically, the current ratio reached 1,74 times, indicating the company has prepared sufficient short-term resources to execute its projects.
Additionally, the interest coverage ratio stood at 2,15 times, ensuring the ability to cover accruing interest expenses. In fact, during the first half of the year, the company spent nearly 191 billion dong to pay interest to bondholders and recorded no delayed payments. Leadership indicated that financial resources will serve as the foundation for the company to accelerate investment in key project portfolios in Thanh Hoa, Quang Tri, TP HCM, and other locations.
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An overview of Thanh Da peninsula viewed from Thao Dien area, TP HCM. Photo: Quynh Tran |
Established in 2007, Tap Doan Mat Troi primarily operates in real estate business and entertainment services. It holds a diverse investment portfolio and plays a pivotal role within the Sun Group ecosystem.
In recent two years, Sun Group has made a strong comeback in the real estate and tourism markets, consistently seeking investment opportunities, initiating construction, launching, and selling numerous large-scale projects. Among these, Tap Doan Mat Troi is investing in the Binh Quoi - Thanh Da new urban area, spanning over 423 hectares in TP HCM, with a total capital of nearly 99,000 billion dong.
Tat Dat
