Phat Dat ranked Profit500 Rating Board in 2018
Today, 29 November 2018, the announcement ceremony of Profit500 was successfully held at the National Conference Center, Hanoi by Vietnam Report in cooperation with VietnamNet Newspaper.
Companies honored in this ceremony were the best performers with good profitability and great potential to become key influencers of Vietnam’s future economic development. The ranking is designed to improve the enterprise’s prestige and brand equity, facilitating better access to resources and new business opportunities by improving the trust of partners/investors, helping to improve competitiveness and obtain sustainable development in the increasingly deepened economic integration.
Within the framework of the event, Vietnam Report studied and recorded the results in the bilingual Vietnam Earnings Insight 2018 within the context of “Profit trends by economic sectors in 2018-2019”. It is noteworthy that most companies highly value the government’s macroeconomic policies to curb inflation, adjust exchange rate and improve access to information and legal documents. 97.1% of the companies judged from good to very good regarding the maintenance of economic stability and improvement of investment and business environment in Vietnam by September 2018.
However, three issues remain which include inefficiency of governmental administrative services, infrastructure and land access. The companies acknowledged to be focusing efforts to enhance investment operations, high quality human resources, while meeting current urgent demand.
Expert’s find that during the 2018-2019 period, Finance – Banking, IT, Retail Distribution, Petroleum, Real Estates, Utilities (including power, water) sectors were the ones with incremental profit growth trend. Basically, the above sectors’ profit growth was enhanced by economic growth, stable politics – macro factors, improved investment environment and rapid increase of the middle-class group, ever-changing habits and urbanization trend. Moreover, great efforts to cut operating cost and management costs also partially facilitated improvements in profitability.
The ceremony was attended by the leaders from the Ministry of Information and Communications, the provincial Departments of Finance, the provincial/municipal People’s Committees, representatives of international organizations in Vietnam as well as Vietnamese and international economic experts, outstanding representatives from the best performing companies in Vietnam. Within the event context, the “Dream House” charity fund raising was launched to appeal to the prominent business community to advocate for charity houses to people in need, worth VND 50 – 70 million per house. With the objective of 500 houses to be funded, the Organizers hoped it will become a long term meaningful deed which will gain snowball effect in the long run.
PDR was honored the Profit500 Award.
Thanks to impressive revenues and profit growth, Phat Dat Real Estate Development (ticker: PDR) was ranked 62nd out of TOP 500 enterprises with the best profit in 2017, of which a Award ceremony was held on 29 November 2018 by Vietnam Report.
Penetrating into the market since 2004, PDR’s brand positioning strategy has been promptly launched upon inauguration of its own trademark, the EverRich, supported by the project on luxury and commercial condominium complex, the EverRich 1, the EverRich 2, the EverRich 3, and then the EverRich Infinity and Millennium. That is why Phat Dat brand has been acknowledged as the most outstanding fame of the Southern real estate market.
Mr. Ngo Quang Thao – Investment Management Director of Phat Dat in the Ceremony
Maintaining “big player” performance in the property industry
Companies awarded with Profit500 2018 are outstanding players with impressive, efficient and highly profitable and are to be evaluated by the criteria: ROA, ROE, ROR; profit before tax; report on revenue and profit in the first 3 quarters of 2018, showing optimistic prospective to revenues and profitability increase in next 12 months. Moreover, the evaluation criteria were also based on the companies’ prestige, manpower, business prospects, etc.
PDR’s consolidated Financial Statement in Q3/2018 (HOSE: PDR) unveiled that revenues for the first 9 months of 2018 hit over VND 448 billion, profit after and before tax obtained VND 389 billion and VND 246 billion, respectively, an increase of 44% compared to same period in 2017.
In addition to the profit obtained from The EverRich Infinity’s last handover phase, the remaining profit of the period mainly originated from the co-development contract of Millennium project.
With above achievements, 22.4% of the revenue target and nearly 54% of profit after tax target were successfully achieved in the first 3 quarters of the year. Noteworthy, PDR had repayed all it’s debts to financial institutions.