Mr. Johnathan Hanh Nguyen's company's third quarter profit increased nearly 4 times

In the third quarter, revenue from duty-free shops and lounges increased sharply, helping Sasco achieve after-tax profit of nearly VND131 billion, 3.7 times higher than the same period last year.

A recently released report by Tan Son Nhat Airport Services Joint Stock Company (Sasco) shows that in the third quarter, net revenue reached VND714 billion, up 72% year-on-year - mostly from duty-free shops and lounges. Gross profit in the third quarter was VND423 billion, nearly double the same period.

In addition to the core segment, the company's financial revenue increased many times to 41 billion VND, while interest expenses were 0. As a result, the company's net profit was nearly 131 billion VND, 3.7 times higher than the same period - the highest profit quarter since 2019.

Mr. Johnathan Hanh Nguyen - Chairman of Sasco Board of Directors. Photo: Xuan Ngoc

In the first 9 months of the year, the company recorded net revenue of VND1,887 billion and net profit of VND241 billion, up 124% and 99% respectively over the same period. Thus, the company has completed 80% of the annual revenue and profit plans, respectively.

As of September 30, the company had VND1,500 billion in short-term assets, of which more than 50% were cash and short-term financial investments. Short-term debt at the end of September was VND880 billion, most of which were short-term payables to suppliers.

At the end of the session on October 18, SAS shares went against the market trend, increasing 8.5% to VND25,400 per share.

At Sasco, Mr. Johnathan Hanh Nguyen has been the chairman since mid-2017, and his wife, Ms. Le Hong Thuy Tien, is on the Board of Directors.

Thi Ha

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