Sao Mai Group Targets Spending VND2 Trillion on Investment in 2016

 

At the meeting, Sao Mai Group's leaders reported positive results in 2015, including real estate - the main source of profit for the group. This segment saw a revenue growth of 28 per cent to almost reach the full-year target. Since 2011, the group's real estate sector has always achieved an annual growth of at least 25 per cent. The net profit in 2015 was equal to that in 2014.

 

Mr Le Thanh Thuan, President and CEO Sao Mai Group, said that, in 2015, the group restructured its operations by focusing on key business areas while reducing resources for trade and fisheries in subsidiaries and associated companies. The company used proceeds from share issue to fund real estate projects, including its new projects in Thanh Hoa province - another necessary step for the group to reach the northern market. In 2015 Sao Mai Group was ranked a Top 500 Vietnam company by revenue. Especially, the group was awarded the Third-grade Labour Order by the President of Vietnam for its achievements and contributions. "These results are encouraging in the current context of tough economic conditions and growing corporate bankruptcies in the industry," he said.

 

The meeting also passed business plans in 2016 presented by the leadership. Accordingly, the group eyes a revenue growth of 15 per cent and a profit growth of 111 per cent over 2015. The company will continue to increase investment, estimated at VND2 trillion in 2016, for real estate, fisheries, tourism and health projects.

Given the foundation built in 2015 and previous years, Sao Mai Group is confident of reaping greater successes in 2016 than in 2015.