Transport infrastructure builder Deo Ca achieves 55% of 2024 net profit target
Deo Ca Traffic Infrastructure Investment JSC, a subsidiary of “tunnel king” Deo Ca Group, has fulfilled 55% of its 2024 net profit target in the first half of the year.
Listed on the Ho Chi Minh Stock Exchange as HHV, the transport construction player earned a net profit of VND221 billion ($8.69 million) on revenue of nearly VND1.47 trillion ($57.79 million) in H1/2024, up 15% and 28% year-on-year, respectively.
Deo Ca engineers work on the Quang Ngai-Hoai Nhon expressway, central Vietnam. Photo courtesy of the firm.
This year, the company has targeted VND3.14 trillion ($123.77 million) in consolidated revenue and VND404 billion ($15.89 million) in net profit, up 17% and 11% year-on-year, respectively.
At its 2024 AGM on May 31, HHV general director Nguyen Quang Huy had said that the company and its parent group completed and put the VND8.9 trillion ($350.15 million) Cam Lam-Vinh Hao expressway into operation in late April.
In April, the firm also started work on the first phase of the Dong Dang-Tra Linh and Huu Nghi-Chi Lang expressways, both in the north. It is expected to invest VND5.7 trillion ($224.25 million) in these two projects that have a total investment value of VND25.3 trillion ($995.36 million).
HHV is currently building the Quang Ngai-Hoai Nhon expressway, the Binh Dinh coastal road’s Cat Tien-Diem Van section, and a route linking Lien Chieu port with Danang city, all in the central region.
It is also in charge of managing, maintaining and operating over 410 km of expressways and highways, over 30 km of road tunnels and 18 toll booths in build-operate-transfer projects.
In the near future, it is projected to operate and manage an additional hundreds of kilometers of expressways and road tunnels in the second-phase of the colossal North-South expressway project.
Last year, the company earned VND2.68 trillion ($105.54 million) in consolidated revenue, up 28% year-on-year and exceeding the annual plan by 8%. Its net profit surged nearly 22% to VND364 billion ($25.15 million), 7% above the set target.
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