Vicostone expects Q1 interest to increase by more than 22%

Vicostone Joint Stock Company (HNX: VCS), a member of Phenikaa Group, has just announced the report on estimated business results for the first quarter of 2021. Accordingly, net revenue and pre-tax profit are estimated at 1,541.2 billion and 432.5 billion, respectively, up 12.6% and 22.3% over the same period in 2020.

In 2021, Vicostone targets net revenue of 6,797 billion dong, pre-tax profit of 1,919 billion dong. Up to this point, according to the estimated results of the first quarter of 2021, Vicostone has completed 22.7% of the annual plan of the revenue target and 22.5% of the annual plan of the pre-tax profit target.

Vicostone said that the proactive implementation of early application of measures to cope with negative impacts from Covid-19 and the positive business results generated in the first quarter contributed to the stable development of this company, as well as limiting the possible damage caused by the instability of the economy in the following months of 2021.

Also in this first quarter, Vicostone announced the audited 2020 consolidated financial statements. At the end of the year, Vicostone’s total assets reached 6,055 billion VND, an increase of 8% compared to 2019, the total net revenue and pre-tax profit compared to 2019 increased slightly, reaching 5,659 billion VND and 1,667 billion VND, respectively.

Notably, the dividend payout ratio is at 40% in cash in 2020. This is the 6th consecutive year Vicostone pays dividends above 40% annually.