Vietnam Container Corporation (Viconship – ticker VSC) recently announced its audited financial report for 2024, showing a net revenue of 2.788 trillion VND, up 28% year-on-year, and a net profit after tax of 434.5 billion VND, up 118%. The profit increase is mainly attributed to rising revenues and gross profits. The company also recorded a significant rise in financial income due to its investment in Nam Hai Dinh Vu Port. By the end of 2024, Viconship’s total assets reached 7.795 trillion VND, a 50% increase compared to the beginning of the year, having invested 547 billion VND in securities. This includes nearly 232 billion VND used to purchase over 12.83 million Eximbank (EIB) shares and 148 billion VND to buy 6.54 million shares of Gelex (GEX). Viconship is currently the largest port operator in Hai Phong with a 30% market share but will face financial impacts from bank loan interest for its investment.
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