Vietnam conglomerate TTC Group’s investment arm posts 5-fold surge in H1 net profit
Thanh Thanh Cong Investment JSC, a subsidiary of Vietnam’s conglomerate TTC Group, posted a net profit of VND523 billion ($19.8 million) in the first half of 2025, more than five times higher than a year earlier, its filing with the Hanoi Stock Exchange showed.
The profit boost lifted retained earnings to VND1.54 trillion ($58.8 million) and significantly improved profitability. Return on assets in H1 rose to 1.9% from 0.4% a year ago, while return on equity climbed to 8.1% from 1.6%.
TTC Group's headquarters in Ho Chi Minh City, southern Vietnam. Photo courtesy of the firm.
As of end-June, the company reported owner’s equity of nearly VND6.5 trillion ($246.4 million) and total liabilities of VND21.2 trillion ($803.6 million), including VND7.68 trillion ($291 million) in bank loans and VND1.3 trillion ($49.3 million) in bonds. It has seven outstanding bond issues with annual coupon rates between 7.25% and 11%.
Founded in 1979, TTC Group has expanded from an alcohol producer into a conglomerate with more than 120 subsidiaries spanning agriculture, energy, real estate, industrial parks, tourism and education. Four of its units are listed in Vietnam: BT, GEG, SCR and VNG.
The group was co-founded by chairman Dang Van Thanh and his wife Huynh Bich Ngoc, the current CEO. Thanh is also known as founder and former chairman of Sacombank (HoSE: STB), which he led from 1995 to 2012.
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