Nam Long presented for the 4th time on Forbes Vietnam’s list of “50 best listed companies 2019”adminnamlong
Growing despite the challenges of the real estate market with 2018’s revenue exceeded 124% of the plan, net profit increased by 43% to VND 763 billion, Nam Long Group (HOSE : NLG) was honored by Forbes Vietnam on the prestigious list of “50 Best Listed Companies” in 2019.
The list is assessed and ranked by Forbes Vietnam on the best-performing companies in the market, based on objective criteria, development, growth rate, sustainability and transparency of the business. In 2018, Nam Long recorded a 25% increase in sales at VND 5,156 billion, 11% increase in total revenue at VND 3,480 billion. The group’s net profit increased by 43% to VND 763 billion. The annual results went according to strategic plan, with net profit exceeded the projection at 124%. By the end of first half of 2019, Nam Long’s total assets worth VND 10,303.7 billion, cash balance was nearly 1,854 billion VND, net revenue surpassed VND 935 billion, 6-month’s gross profit totaled up more than VND 327 billion and profit after tax was VND 265.8 billion, up by 24% compared to the same period last year
To be in the top 3 township developers by 2020, Nam Long has accelerated the development of large-scale townships in 2019 based on international standards, modern infrastructure and complete utility system to add extra value for customers and shareholders. Specifically, in the first half of 2019, Nam Long announced the township development and market expansion strategy with more than 200-hectare of new clean land fund at Waterfront township (170 hectare in Long Hung, Dong Nai), Nam Long Dai Phuoc (45 hectare in Nhon Trach, Dong Nai) and Nam Long Hai Phong (21 hectare in Thuy Nguyen, Hai Phong). This is considered an outstanding growth rate of Nam Long’s with new land fund added in short period of time equivalent to 50% of the total land fund developed in the past 15 years. Currently, the total of NLG’s clean land fund in Ho Chi Minh City, Long An, Dong Nai, Can Tho and Hai Phong are 650 hectares which is the second biggest land fund for township development in Vietnam market.
For 2019-2021 planning, Nam Long continues to set a target to increase the number of products developed by 4 times and the number of products delivered by 3 times, compared to the period 2015-2018. This is equivalent to building nearly 26,000 EHome, Flora and Valora products and delivering more than 16,000 products in potential townships. Net profit in 2019 is projected at VND 956 billion, up 26% compared to 2018, and up to VND 1,100 billion by 2020.
Accordingly, Nam Long’s plans for the Q3 and Q4/2019 include the sales opening of Akari City (district Binh Tan), Waterpoint (Long An), Phase 2 Mizuki Park, and the delivery of Valora townhouses and villas, Flora Mizuki apartments (part of Mizuki Nguyen Son townshop in district Binh Chanh) and Flora Novia apartment (district Thu Duc).
(Source: Nam Long Group (Hose: NLG))