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Saturday, June 15, 2024

ASM sets high revenue, profit targets

By Dang Yen

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The Covid pandemic has sent the global economy into a tailspin, while forcing numerous enterprises to suspend their operations or be disbanded. Successfully surviving economic challenges, Sao Mai Group (ASM) has achieved multiple impressive business results.

Le Thanh Thuan, general director of Sao Mai Group, says ASM is determined to boost business in 2022

ASM made its way into the Top 10 of FAST500 – Top 500 fastest growing enterprises in Vietnam in 2022 and came first in the Top 50 Vietnam Best Growth.

Shareholders pass a 2022 business plan

In 2021, Sao Mai Group posted some VND11.4 trillion in net revenue and VND703 billion in after-tax profit, up 23% year-on-year. Given positive results, the board of directors of Sao Mai is set to pay a 2021 cash dividend of 15%, equivalent to VND504.7 billion, in the second or third quarter of 2022.

The board of directors of Sao Mai chair its annual general shareholder meeting

In 2022, Sao Mai Group has set a target to increase its net revenue by 29% against the 2021 result, at VND14.7 trillion. Its after-tax profit is targeted at VND1.63 trillion, an increase of 2.3-fold against the 2021 figure, while the 2022 dividend payment is projected at 20%-30%.

Members of the board at the general shareholder meeting

On April 9, the business plan with the above-mentioned targets introduced by the board of directors of Sao Mai Group was approved at the annual general shareholder meeting at the convention center of the Long Xuyen Hotel in An Giang Province’s Long Xuyen City. In addition, the group will issue 168.2 million shares to its existing shareholders at the price of VND12,000 per share. Sao Mai Group expects to mobilize VND2,019 billion from the share issue for its business operations, including contributing VND253 billion to Andesco, VND77 billion to An Giang Tourimex JSC and VND69 billion to Dong Thap Tourist JSC, and adding VND1,616 billion to its working capital.

Sao Mai Group operates in multiple sectors, including real estate, construction, architecture, tourism, seafood, solar power and labor export.

After the pandemic, the group’s performance in these fields regained growth, helping ramp up its revenue.

Clean energy contributes 40% to the group’s total revenue


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