A site run by construction firm FECON Corporation. FECON recorded after-tax profit of VNĐ15.6 billion in Q2, down nearly 81 per cent. — Photo baodautu.vn HÀ NỘI — Construction firm FECON Corporation (FCN) announced second-quarter revenue of nearly VNĐ762 billion, up 26.5 per cent year-on-year. Gross profit margin increased from 10.2 per cent to 14 per cent thanks to lower cost of goods sold. Financial income dropped by over 99 per cent to VNĐ1.8 billion. Financial expenses decreased from VNĐ119.6 billion to VNĐ29.6 billion. In contrast, corporate management expenses and selling expenses rose by 1.4 per cent and 27.5 per cent over the same period last year, respectively. After deducting all expenses, FECON recorded after-tax profit of VNĐ15.6 billion in Q2, down nearly 81 per cent. According to its explanation, in the quarter, the company did not record any extraordinary profits from the partial divestment from Vĩnh Hảo 6 Solar Power Project and from the transfer of a 36-per-cent stake in FECON Underground Construction Joint Stock Company (FCU) to Japanese partner Raito Kogyo, as in the same period last year. In the first six months, revenue and net profit of FECON reached VNĐ1.2 trillion and VNĐ28 billion, respectively, up by 9 per cent… Read full this story
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