According to BCG’s audited consolidated business results for the first six months of 2016, accumulated revenue from sales of goods and services reached 607 billion VND and accumulated after-tax profit was 29 billion VND, up by 123% and 70.4% over the same period of last year, respectively.
Along with the increase in sales of goods and services, cost of goods sold recorded for the first six months of 2016 was 521.6 billion, up by 116.6% compared to the first six months of 2015. Accordingly, the accumulated gross profit from sales of goods and services reached 84.5 billion VND, or 2.7 times over the same period of last year.
Selling expenses and administrative expenses also increased from around 2 billion VND to 28.8 billion VND and from 21.2 billion VND to 41.5 billion VND, respectively. This can be explained by BCG increasing its ownership in the number of subsidiaries and affiliates within the past year. Remarkably, financial expenses decreased from 5.9 billion VND to 4.2 billion VND, while revenue from financial activities almost doubled, from 17 billion VND to 31.7 billion VND.
Accumulated after-tax profit for the first six months of 2016 exceeded 70% increase while the average shareholders’ equity increased very slightly by 25.6% (from 509,4 billion VND up to 639,9 billion VND) which in turn made the profitability ratio – return on shareholders’ equity (ROE) specifically, rise from 3.4% for the first six months of 2015 to 4.5%.
For the last six months of 2016, BCG will focus on promoting its subsidiaries’ trading activities including: coffee, tapioca, cocoa and implementing its investment on the solar power plant project with a capacity of 100MW in Quy Nhon, Binh Thuan and Long An.