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Monday, June 17, 2024

Mien Tay Coach Station gains hefty revenue in 2023

The Saigon Times

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HCMC – Mien Tay Coach Station Joint Stock Company’s revenue amounted to an all-time high of VND140 billion, up by 49% year-on-year, backed partly by the HCMC government’s ban on sleeper buses in the inner-city districts.

According to the company’s recent financial statement, Mien Tay Coach Station JSC generated revenue of nearly VND35 billion in the fourth quarter of 2023, a 21.5% increase compared to the same period in 2022.

The strong revenue growth resulted largely from the ban on sleeper buses operating in the inner-city areas, which took effect early last year. The company also efficiently operated a service fee collection system for vehicles entering and exiting the station, as mandated by the authorities.

The coach station in the west of the city also saw its revenue from financial activities expanding by 29% year-on-year to VND4.7 billion, supported by high-interest deposits made at the beginning of last year. 

The company gained nearly VND15.3 billion in after-tax profit in the fourth quarter of 2023, up by 13% year-on-year.

Its after-tax profit in all of 2023 surged by nearly 75% year-on-year to VND66.5 billion, the highest in four years.

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