A construction company increases profits by 71% thanks to real estate and industrial zones, EPS over 7,000 VND, earning 80% from ‘related’ stocks

CTCP Dầu khí IDICO (ICN) reported its Q2 2025 financial results with a revenue of 187 billion VND, a 15% increase in after-tax profit to 85 billion VND. Over the first six months of the year, ICN’s revenue grew by 60% to 368 billion VND, and after-tax profit rose 71% to 143.5 billion VND, with EPS exceeding 7,000 VND. The growth is primarily driven by real estate projects at Bắc Châu Giang urban area and Mỹ Xuân B1-CONAC industrial zone. ICN, a subsidiary of IDICO, has total assets of 1,287 billion VND, with nearly 600 billion VND in cash and short-term financial investments. The company recently issued a 50% stock dividend, increasing its charter capital from 204 billion VND to 306 billion VND. Additionally, ICN holds HTI shares of IDICO, valued 80% higher than their acquisition cost, while HTI reported a 122% profit increase in Q2 2025, reaching 96 billion VND.