Nam Long ‘flips’ profit in the first quarter, inventory accounts for 61% of total assets

According to the consolidated financial statements for Q1 2025, Nam Long Investment Corporation (NLG) reported a revenue of VND 1,291 billion, up 6 times year-on-year, with real estate transfer revenue exceeding VND 1,200 billion. Net profit reached nearly VND 110 billion, recovering from a loss of VND 65 billion in Q1 2024. Total assets are VND 28,763 billion, down 5.1% from the beginning of the year, with inventory accounting for 61% (nearly VND 17,543 billion). The largest inventories are in the Izumi and WaterPoint projects. Total liabilities decreased by 10% to over VND 14,243 billion, with financial debts of VND 7,100 billion. Nam Long plans to hold an annual shareholders’ meeting on April 26, aiming to achieve 2025 revenue and net profit targets of VND 6,794 billion and VND 701 billion, respectively, an increase of 35% from 2024, driven by key projects like Southgate and Can Tho.