Vietjet: Audited consolidated profit increases by VND546 billion. Dividend is expected to be 60%
(Ho Chi Minh City, April 20th, 2018) - According to the audited consolidated financial statements of 2017 of Vietjet Aviation Joint Stock Company (HOSE code: VJC), its pre-tax profit increased by more than VND546 billion compared to the pre-audit report.
Accordingly, its net revenue stood at nearly VND42,303 billion, an increase of nearly VND45 billion. Cost of sales decreased from VND36,289 billion to VND35,753 billion, therefore after-tax profit of Vietjet in 2017 stood at VND5.074 billion. This profit exceeded by 150% of the 2017 plan and 103% year on year.
Profit attributable to shareholders of the parent company increased from VND4,527 billion to VND5,073 billion, equivalent to an increase of VND546 billion. Earnings per share (EPS) stood at VND11,356, an increase of 73% year on year.
With an increase of profit attributable to shareholders of the parent company, Vietjet’s unallocated profit up to December 31st, 2017 was VND5,809 billion. Before that, the company raised its 2017 dividend payout from 50% to 60% due to the positive business results. Vietjet advanced the 2017 cash dividend payment at the rate of 30% and planned to pay the rest 30% dividend by shares. With its above-mentioned higher profit and abundant cash, the Board of Directors expected to submit to Annual Meeting of Shareholders the payment of 10% cash dividend and 20% share dividend. Vietjet has a tradition of continuous high dividend payments to its shareholders.