Mr. Pham Nam Phong, Chairman of the Board of Directors of Construction Joint Stock Company 47 (HoSE: C47), has just delivered a message outlining the company’s vision and strategy for the next four years, from 2021 to 2025, when it has just celebrated its 46th anniversary. Mr. Phong has only been Chairman of the Board of Directors since mid-August; prior to that, he was Vice Chairman of the Board of Directors.
Accordingly, the company is expected to set an average revenue and profit growth target of 25% per year beginning in 2022, with a goal of exceeding 3,000 billion dong in sales by 2025. The average dividend and bonus share ratio is greater than 15% per year.
CC47 is expected to participate in many national projects in experience fields such as irrigation, hydroelectricity, civil and industrial works, and so on, with an investment capital of more than 200,000 billion VND. In addition to traditional segments, the company will encourage participation in new segments to gradually increase the proportion of revenue, such as highway projects, anti-flood, anti-salinity projects, embankments along rivers and seas, metro projects using TBM tunneling technology, airport and port infrastructure, renewable power plant projects, industrial park infrastructure….
THE BUSINESS RESULTS OVER THE YEARS
In this year, the company has completed and will complete and hand over major projects such as Bac Ai Pumped-Storage Hydropower plant (Ninh Thuan), Da Nhim Expanded Hydropower Plant (Lam Dong), Tan My Irrigation (Ninh Thuan), Dong Mit (Binh Dinh). In addition, CC47 has also started and implemented the construction of expanded Hoa Binh Hydropower projects (Hoa Binh), Dong Mit hydropower projects (Binh Dinh), repairing and improving safety of WB8 dam in Lam Dong province (Lam Dong). In October, the company will start construction of Phu Phong Rolling Weir (Binh Dinh).
According to the company, the total value of new construction works in the year exceeded 1,500 billion VND. The total value of the bidding packages to be participated in by the end of 2021 and 2022 is expected to exceed VND 5,000 billion, ensuring a source of investment for the following year.
In the first half of the year, the company earned 572 billion dong in revenue and more than 17 billion dong in profit after tax, representing increases of 3% and 29%, respectively, over the same period last year. In comparison to the year plan, the company completed 52% of revenue and 55% of profit. Business leaders anticipate that profit growth will continue in the third quarter, and that the year will exceed expectations.
C47