LDG Investment Targets 91 Per Cent Revenue Increase

HÀ NỘI — Real estate firm LDG Investment JSC has targeted raising its total revenue in 2019 by 91 per cent to VNĐ3.3 trillion (US$141.6 million).

But this year, forecasts show profits are likely to fall by VNĐ4 billion to VNĐ600 billion.

According to company chairman Phạm Khánh Hưng, the target profit of VNĐ600 billion was reachable, though it was considered below shareholders’ expectations.

As the market conditions may get worse this year, there was no reasons to set higher goals, Hưng told the firm’s annual shareholder meeting on Monday.

The company also planned to make a 25 per cent dividend payout in bonus shares for its performance in 2018, instead of 10 per cent dividend in cash and 15 per cent dividend in bonus shares as approved by shareholders.

The company would issue 47.6 million bonus shares for its 2018 dividend payment, and issue two million ESOP shares for its employees.

The share issuance will increase its capital to VNĐ2.4 trillion from VNĐ1.9 trillion. Additional capital will be used to develop new projects of a larger scale and higher quality over the next five years.

Shareholders at the meeting also approved the firm’s dismissal of Nguyễn Phạm Anh Tài from the board of directors. The replacements were Lương Trí Thảo and Lê Văn Hưng.

The company has more than 190.6 million shares listed on the Hồ Chí Minh Stock Exchange with the code LDG.

It ended Tuesday flat at VNĐ14,100 per share. — VNS