THE PROFIT OF NEWTECONS INCREASED IN THE FIRST QUARTER OF 2019

With the project bidding situation and results achieved, the Board of Director of the company strives to complete and exceed the business plan set out this year.

At the beginning of April, Newtecons started simultaneously two projects in the center of Ho Chi Minh City and Binh Duong province, namely the Wink Hotel Saigon Center and the Sora Gardens II Project.

Rapid growth rate

Newtecons Construction Investment Joint Stock Company has just announced its business results inthe first quarter of 2019 with fast growth targets. Revenue is estimated to increase by 158% over the same period last year. Along with revenue, after-tax profit also reaches high growth.

This result is more outstanding to many enterprises in the same industry and is even more remarkable in the time when the real estate market is difficult. Some investors acknowledge the legal review of many real estate projects have caused the approval and implementation of projects suspended. This directly affects the contractor, even causes the situation of delaying the project to start and break the bidding plan.

However, Newtecons still find potential niche markets with mega projects across the country, stretching from the North to the South. On the other hand, Newtecons’ close strategic partner – Coteccons has a strong financial potential to help the company fully concentrate its human resources and material resources on safe construction, quality and on-schedule. Newtecons brand reputation and construction reputation are always highly appreciated and trusted by investors.

From a business with only 3-digit revenue, Newtecons continuously asserted itself, accelerating rapidly with targets of several trillion dong each year.Contractors of  mega projects

If assessing the brand of the construction company with thesites, the image associated with Newteccons was Landmark 81, Casino Nam Hoi An, Masteri Thao Dien CT5, Vinhomes Thang Long, Flamingo Dai Lai Resort … From a construction company with small contracts, Newtecons have been constantly rising, marking their iconic projects.

In 2019, Newtecons continued to implement projects worth triliions such as Vincity Grand Park (District 9, Ho Chi Minh City), Vincity Sportia (Hanoi), Vincity Ocean Park (Hanoi), Hotel Project 58 Tay Ho (Hanoi) …

At the beginning of April, Newtecons started simultaneously two projects in the center of Ho Chi Minh City and Binh Duong province, the Wink Hotel Saigon Center project and the Sora Gardens II project. Also in the first quarter of 2019, Newtecons started to construct many projects from North to South, including: One Hub Saigon Phase II; Manwah Factory Phase II; Vincity Ocean Park (Gia Lam), Vincity Sportia; Vincity Grand Park – Lot I1 – PK2; 58 Tay Ho Hotel; Sora Gardens II Binh Duong; Binh Chau Hot Spring Resort, BoHo Décor Long An Factory Project.

In addition, with the strategy of cooperating with some investors who have available land for development, Newtecons has implemented real estate projects in Vung Tau with great value.

With the project bidding situation and the results achieved, the Board of Director of the company strives to complete and exceed the business plan set out this year.

Source: VnEconomy