Urban infrastructure developer Phu My Hung reports $154 mln profit in 2022
Taiwanese-backed Phu My Hung Development Corporation, a leading urban infrastructure developer in Vietnam, reported after-tax profit of VND3.62 trillion ($154 million) in 2022, up 40% year-on-year.
The company's equity reached VND14.38 trillion ($610.83 million), down 1%, according to a financial report released by the Hanoi Stock Exchange (HNX) on Monday.
Return on equity (ROE) was 18%, while the debt-to-equity ratio reached 1.52 and the bond debt-to-equity ratio hit 0.62.
Phu My Hung Development Corporation, established in 1993, is a joint venture between Vietnam's Tan Thuan Industrial Development Company (IPC) under the Ho Chi Minh City People's Committees and Taiwan's Phu My Hung Asia Holdings under CT&D.
Phu My Hung urban area, located along Nguyen Van Linh boulevard, District 7, Ho Chi Minh City. Photo courtesy of the company.
Its famous Phu My Hung urban area, covering 3,000 hectares and located along Nguyen Van Linh boulevard in the south of HCMC, is considered the first and only model urban area in the southern hub.
From 2019-2020, Phu My Hung acquired many projects like the Sen Viet Ecological Residential Area and Garden House (212 hectares in Long An province), the Sannam Food and Service Technology Park (405.7 ha in Hoa Binh province), and the Hong Hac-Xuan Lam ecological urban area (198 hectares in Bac Ninh province).
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