First Real Real Estate Joint Stock Company (First Real, stock code: FIR) announced its 2018 consolidated financial statements, recording a profit after tax of 78.4 billion dong, up 4.98 times over the same period of the year. 2017 (VND 15.7 billion) and FIR shares rose 119% after 10 consecutive ceiling-hitting sessions.
In the market, the FIR stock 'wave' has made many investors pay attention not only because of the possibility of peak price increases - 10 consecutive ceiling-hitting sessions (from October 18, 2018 to October 31. 2018). With the initial reference price from 12,000 VND / share, FIR stock has grown extremely strongly, reaching 26,300 VND / share.
According to the explanation from First Real Real Estate Joint Stock Company, FIR stock increased strongly thanks to the support of positive business results in the fourth quarter and the whole of 2018, and information about the new project being implemented.
At the end of the fiscal year of 2018 (from October 1, 2017 to September 30, 2018), the company achieved very positive results and grew strongly compared to the previous years. The company's total assets were VND 530.6 billion, consolidated revenue increased by 176% (from 61 billion to 167.9 billion) while COGS increased only 120% (from 35.6 billion to 78.3). billion), the ratio of COGS to sales decreased from 59% to 47%, leading to an increase in gross profit margin compared to the previous year.
Thus, consolidated after-tax profit reached 78.4 billion dong, 4.98 times higher than consolidated profit after tax in 2017, reaching more than 120% of the plan, EPS reached more than 6000, profit undistributed profit was up to 96 billion dong.
Specifically, the debt / equity ratio of First Real as of the end of the fourth quarter reached 1.34 times (less than 3 times is safe level - PV), showing that the company is less dependent on the form of capital mobilization. by loan; ensure financial security.
Thanks to positive business results, accumulated until the end of the fourth quarter, First Real's ROE (net return on equity ratio) and ROA (net return on assets ratio) are very impressive. when reaching 34.6% and 14.8% respectively. This is a high rate of return compared to the current bank interest rates and shows that the company is operating effectively in converting investments into profits.
In addition, FIR shares are expected by investors partly thanks to quality real estate products, beautiful location, good facilities and potential profitability in the future. Positive profits for the company in the near future.
Currently, a number of projects the company is implementing have received a positive reception from customers such as Truong Thinh Commercial Residential Area and My Canh Commercial Housing Project (Bao NinhSunrise Villa Resort) in Quang Jar.
New wave from high-end projects
Compared to other units in the same industry, First Real Real Estate Joint Stock Company is currently one of the leading companies in the real estate distribution, brokerage and trading market in Da Nang, Quang Nam.
After 4 years of establishment and development, the company has successfully offered for sale more than 2,360 products in more than 14 projects. In which, many projects are in the top hunt of investors such as: An Cu urban area, FPT City Da Nang project, Phuong Trang high-rise commercial urban complex ... The company has affirmed its position. compared to other units in the industry. The company's market share in brokerage and real estate business in Da Nang in 2017 is estimated at 40% - 45% of the number of transactions in the market.
With a long-term business strategy, the company is gradually transforming into implementing high-class projects, expanding its operating area, bringing new investment opportunities to customers across the provinces: Thanh Hoa, Quang Binh, Da Nang, Quang Nam, Nha Trang, Phu Yen, Long An ... ready to serve the goal of sustainable growth and development in the coming years and affirm the First Real brand in the real estate market. Vietnam.