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Tuesday, July 23, 2024

Everland eyes five-fold profit growth this year

The Saigon Times

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HCMC – Everland Group Joint Stock Company, which trades its EVG shares on the Hochiminh Stock Exchange, looks to obtain VND121.8 billion in 2023, up five times over 2022.

The company organized its general meeting of shareholders on May 31, approving the annual business plan with target revenue of VND950 billion in 2023, up 17% over 2022.

EVG has set a target for its total assets in 2023 to reach VND2,493 billion, with an expected dividend of 5% next year.

Regarding capital mobilization from now until 2025, Everland planned to implement several large-scale real estate projects nationwide and prioritize using equity capital and accumulated profits.

The company will consider borrowing credit loans with reasonable interest rates, issuing project bonds, intensifying the sale of real estate products, and seeking investment funds both domestically and internationally.

The EVG stock saw a staggering increase of 69% from VND4,450 to VND7,530 between May 22 and June 1. However, it started lower on profit-taking, closing the trading session yesterday afternoon at VND7,040. Despite the correction, the stock remains up by over 58% compared to May 22.

EVG closed the trading session today, June 2, at VND6,700, down 4.83%, with over 5.6 million shared changing hands.

Regarding the stock market today, the benchmark VN-Index of the Hochiminh Stock Exchange added 12.45 points, or 1,15%, against the previous session, at 1,090.84, with advancers outnumbering decliners by 245 to 156.

Over 1.037 billion shares worth VND18.3 trillion changed hands, up 21.08% in volume and 32.38% in value against the previous session.

Bank stocks continued to play a leading role in driving market gains. VIB stood out as the sole stock to hit its daily price limit, closing at VND23,050 per share, up 7%.

Meanwhile, VIB experienced a surge in liquidity, ranking among the top 10 stocks with over 21.47 million shares traded today, nearly five times the average trading volume over the past ten sessions.

Lender SHB continued to take the lead in liquidity with 46.11 million shares changing hands.

On the Hanoi Stock Exchange, the HNX-Index added 2.06 points, or 0.92%, to 226.03 points, with 108 winners and 78 losers. Of the advancers, 14 stocks hit their daily upper limit.

The total trading volume reached 126.96 million shares, with a value of over VND1.79 trillion.

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