CC47 targets an average growth of 25% per year from 2022 in both revenue and profit, aiming for sales of over VND 3,000 billion by 2025.
In a letter to shareholders on the occasion of the 46th anniversary of the establishment of Construction Joint Stock Company 47 (CC47) on September 27, Mr. Pham Nam Phong, Chairman of the Board of Directors of Construction Joint Stock Company 47 (CC47) stated that in addition to successfully completing and handing over the works of large projects in 2021, the total value of new works begun in 2021 will reach 5,000 billion dong, ensuring a steady source of income in the coming years.
Major projects that have been and will be handed over in 2021 include Bac Ai Pumped Storage Hydropower Plant (Ninh Thuan), Da Nhim Hydropower Extension Project (Lam Dong), Tan My Irrigation Project (Ninh Thuan), and Dong Mit Irrigation Project (Binh Dinh). CC47 has also started and implemented the construction of Hoa Binh Hydropower Plant Extension (Hoa Binh), Dong Mit Hydropower Plant (Binh Dinh), repairing and improving the safety of WB8 dam in Lam Dong province and will continue to start construction of the Phu Phong Rolling Weir project (Binh Dinh) in October 2021.
According to Phong, CC47 aims to grow at a rate of 25% per year in both revenue and profit beginning in 2022, with sales exceeding VND 3,000 billion by 2025 and a market capitalization of VND trillion and high liquidity. Attempts should be made to keep the average dividend payout ratio and bonus shares above 15% per year.
In terms of business results, revenue was 572 billion dong in the first half of the year, profit was 17.1 billion dong, completing 55 percent of the profit plan, and the third quarter achieved a high profit compared to the same period last year, according to the Board of Management report.
C47