Water park major Dam Sen posts $4.6 mln profit in 2022

Dam Sen Water Park Corporation, Vietnam's leading water park owner, reported an after-tax profit of nearly VND108 billion ($4.56 million) in 2022, four times year-on-year and exceeding its target by 191%.

The company's net revenue reached VND232 billion ($9.82 million), a nine-fold increase year-on-year, according to its consolidated financial statement.

In the revenue structure, entrance ticket collection played a key role, earning VND191.2 billion ($8.09 million), accounting for 80% of the total. Revenue from food services contributed 15%.

Explaining the skyrocketing business results, the company said that since the second quarter of 2022, its business activities have had a strong recovery due to the well-controlled pandemic situation and widespread vaccine coverage throughout the country.

At the same time, the company always focuses on promoting measures to improve service quality and implementing programs to attract customers.

Currently, the company, listed on the Ho Chi Minh Stock Exchange as DSN, plans to implement the second water park project in Ho Chi Minh City.

As of December 31, 2022, the company's total assets were VND283 billion ($11.97 million), up 41% compared to the beginning of the year, of which cash and bank deposits reached nearly VND254 billion ($10.75 million).

At Friday's closing session, the DSN share price hit VND54,000 ($2.28) per unit.