Trieu An Private General Hospital Joint Stock Company's second quarter financial report reveals a revenue of approximately 192.2 billion VND, a nearly 29% decrease compared to the same period last year. This decline stems from the lack of real estate transfers (which contributed over 101 billion VND in the same period last year). Meanwhile, revenue from medical examination and treatment services actually grew by over 14%.

After deducting the cost of goods sold, Trieu An's gross profit was over 42 billion VND, a decrease of nearly 48%. Revenue from financial activities decreased nearly 18 times to just over 88 million VND this quarter.

Conversely, financial expenses were also reduced 15 times to just over 48 million VND. The company incurred no bank loan interest, only financial guarantee costs. Sales and administrative expenses were higher than in the same period last year.

Overall, Trieu An Hospital's after-tax profit was nearly 28.7 billion VND, a decrease of more than 51%. However, this is the second consecutive profitable quarter following a loss of over 22 billion VND in the fourth quarter of 2024.

For the first half of the year, Trieu An recorded approximately 378 billion VND in revenue and over 55 billion VND in after-tax profit. Both figures represent decreases of over 13% and 30% respectively, compared to the first 6 months of 2024.

This year, the company aims for 820 billion VND in revenue and 61 billion VND in after-tax profit. The revenue target is a slight increase of about 10 billion VND compared to last year, but the profit target is projected to decrease by nearly 37 billion VND.

Management believes that competition in the private healthcare sector will continue to intensify this year, requiring companies to innovate, improve the quality of medical examination and treatment, specialize services, and enhance the patient experience.

Medical staff at Trieu An Hospital taking a patient's blood pressure. Photo: Trieu An Hospital

Medical staff at Trieu An Hospital taking a patient's blood pressure. Photo: Trieu An Hospital

Trieu An Hospital was founded in 2001 by Tram Be, Doctor Nguyen Hai Nam, and Lam Trung Luong. At that time, the State encouraged the socialization of healthcare with many incentives, and the private examination and treatment market held much potential.

As one of the first and largest private hospitals in the country, Trieu An Hospital handled nearly 28,000 emergency cases and examined over 279,000 patients last year. Consequently, both revenue and profit reached record levels. Over the past 10 years, the hospital has consistently generated over 350 billion VND in revenue and over 30 billion VND in profit annually, except during the peak of the 2021 pandemic when it reported a loss of 27 billion VND for the first time.

Tram Be previously served as Chairman of the Board of Directors. In 2017, he faced legal issues and handed over the position to Tran Ngoc Henri, considered his deputy. The Tra Vinh-born businessman was elected to the Board of Directors for the 2022-2027 term in 6/2023, marking his return to business. In 4/2024, Tran Ngoc Henri resigned due to health reasons. Subsequently, Tram Be was re-elected as Chairman of the Board of Directors and legal representative of Trieu An Hospital.

Tat Dat