EVN records 11.4 per cent surge in pre-tax profits

Update: 22-06-2019 | 18:26:27

Vietnam Electricity group reached VND9.076 trillion (US$390.26 million) in combined pre-tax profits during 2018, an annual rise of 11.4 per cent.

Dan Tri Newspaper quoted an audited 2018 financial report released by the Vietnam Electricity group (EVN) as showing that the state-run power developer racked up VND338.5 trillion (US$14.55 billion) in net revenues during the year, up 14.8 per cent on year.

Despite facing high production and service costs, EVN still bagged VND53.158 trillion (US$2.28 billion) in gross profits during 2018, a year on year hike of 20.5 per cent.

Following its tax payments worth a total of VND2.309 trillion (US$99.28 million), the group recorded VND6.817 trillion (US$293.13 million) in after-tax profits last year, a slight rise of 3.4 per cent against the previous year.

The net profit of the parent firm amounted to VND5.582 trillion (US$240 million) in 2018. By December 31 2018, the total assets of EVN reached VND706.504 trillion (US$30.37 billion), an increase of VND4.924 billion (US$211.732) against the beginning of the year.

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EVN records 11.4 per cent surge in pre-tax profits

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