Kinh Bắc City Development aims higher in 2019

Kinh Bắc City Development aims higher in 2019

HÀ NỘI — Industrial zone developer Kinh Bắc City Development Share Holding Corporation (KBC) has set higher business targets for  二0 一 九, aiming for total consolidated revenue of VNĐ 三. 九 trillion (US$ 一 六 七. 四 million) and net profit of nearly VNĐ 一.0 四 trillion ($ 四 四. 五 million).

These figures are  一 二 per cent higher in revenue and  二 八 per cent in profits compared to last year, the company’s  二0 一 八 annual report released yesterday showed.

Last year was successful for Kinh Bắc City Development, as its net revenue reached nearly VNĐ 二. 五 trillion, almost double  二0 一 七. In particular, land rental fees exceeded VNĐ 二 trillion, contributing  七 八 per cent of total turnover and up  一 八 一. 六 per cent year-on-year.

According to the report, the company’s land fund for industrial park (IP) development is  五, 一 八 八ha, equivalent to nearly  五. 五 per cent of the total industrial land area of ​​the country. Land area for urban development is  一,0 五 八. 六ha.

In recent years, KBC's business has concentrated in northern localities of Bắc Ninh, Hải Phòng and Bắc Giang and HCM City's Củ Chi District. This year, the company will invest in infrastructure construction of Quang Châu IP, Nam Sơn Hạp Lĩnh Industrial Park (PK), Tân Phú Trung IP, Phúc Ninh IP and Tràng Duệ IP.

The company’s profit after tax reached nearly VNĐ 八0 九 billion, up  三0. 七 per cent compared to  二0 一 七 and surpassing the yearly target by more than  一 per cent, in which net profit of the parent company was VNĐ 七 四 六  billion.

The company still owes investors a dividend of  三0 per cent in cash and shares in  二0 一 七 which was approved in its  二0 一 八 annual shareholders’ meeting. It attributed the delay to insufficient cash source due to slow construction progress of some urban development project.

It is expected to pay  一0 per cent cash dividend two times this year – the first  五 per cent in the second quarter and the last  五 per cent in the third quarter. The remaining  二0 per cent dividend payment will be scheduled at an appropriate time. — VNS