1369 Construction sees profit surge 286% in first half 2025

1369 Construction Joint Stock Company reported a combined post-tax profit of VND 29.79 bn for the first six months of 2025, marking a significant increase of VND 22.07 bn (286%) compared to VND 7.72 bn in the same period of 2024. This growth occurred despite an 8.78% decrease in revenue from sales of merchandise and rendering of services, which fell from VND 158.49 bn in 2024 to VND 144.58 bn in 2025.

The company's financial performance was bolstered by a more substantial decline in the cost of goods sold, which improved its gross profit margin. This indicates effective cost management and a strategic shift in the revenue structure towards higher-margin segments. Financial income saw a remarkable surge, reaching VND 21.65 bn in 2025, an increase of VND 17.67 bn (444%) from 2024, primarily due to the transfer of shares.

The company's total assets as of June 30, 2025, stood at VND 1,256.91 bn, up from VND 779.26 bn at the beginning of the year. Current liabilities increased to VND 564.77 bn from VND 115.95 bn, while non-current liabilities decreased to VND 404.50 m from VND 470.00 m. Owner's equity grew to VND 691.73 bn from VND 662.84 bn. The interim combined financial statements for 2025 were prepared on August 25, 2025, and disclosed on the company's website on August 29, 2025.