VICOSTONE was honored in Vietnam’s 10 best administrated companies
On September 23, 2019, VICOSTONE (a member of PHENIKAA Group) was honored in Vietnam’s 10 best administered companies and in Top 1 in building materials industry in terms of financial management capability.
This evaluation was in the framework of the “Assessment of business operation capability - Vietnam the Best Company” program, implemented under the directive of The Vietnam Chamber of Commerce and Industry (VCCI), with the cooperation of Business Forum Newspaper, Institute for Business Research and Development (INBUS of Hanoi University of Business and Technology), Vietnam Association of Accountants and Auditors (VAA), Vietnam Association of Coporate Director. This is the result after analysing the 2018 Propectuses and public resources of 1,566 coporates listed in three stocks exchange markets HOSE, HNX, UPCoM from 32 ecomomic industries. The asessment was done based on 21 criteria of 6 group of main indexes reflecting a complete picture of the corporate business performance including: Administration Capability, Payment, Effectiveness in Business, Financial Leverage, Revenue and Profit, and Capital Adequacy Ratio.
Mr. Pham Anh Tuan, General Director of VICOSTONE shared “2018 continued to be the year marking impressive business results of VICOSTONE during the five-year period from 2014 to 2018. Besides building the administration system that is abided by the Vietnamese law, VICOSTONE simultaneously applied international customs of OECD and IFC to manage, control and monitor business activities of the company with professionalism, transparency and effectiveness, ensuring the sustainable benefits of the shareholders, in harmony with the benefits of related parties.”
Ms. Dao Mai Lan, Communication Director of PHENIKAA (in the middle) is representing VISCOTONE to receive the award
In 2018, total revenue of VICOSTONE was 4,564.50 billion dongs with the strong financial capability development, stabilizing the capital to facilitate business activities and the ability to pay shareholders. The Return on sales (ROS) was 24.85%, Return on Average Equity (ROAE) remained high at 43.83%. Besides, all solvency ratios remained high (the current solvency ratio is 2.63; the current ratio is 2.27 and the quick ratio is 1.08) that helped VICOSTONE take control of the finance, ensuring the ability to pay. Average income of nearly 700 employees were above 18.68 million dongs/person/month, an increase of 9.94% in comparison to 2017.
In the first six months of 2019 in total, VICOSTONE reached 2,539.72 billion dongs in revenue, an increase of 17% from the same period of the previous year, and gained a profit after tax of 670.25 billion dongs, increased 29% from the first half of 2018. Earnings per share (EPS) was about 3,933 dongs respectively. Besides, VICOSTONE completed receiving the transfer of total equity of PHENIKA Group JSC at Phenikaa Hue Mineral Processing & Investment One Member Company Limited, with the goal of being in control of the input materials, continue to maintain sustainable development.
The “Vietnam The Best Company” program has been implemented annually since 2013. The assessments and analysis of the program are precise and important bases for companies to evaluate their own heath and to have suitable development plans for the next development phases. This is also the verification result of the corporate’s capability to help partners, credit institutions, investors, especially shareholders make reasonable and effective decisions.
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