Kosy Group – Continue to break through in 2018
According to the consolidated financial statements 2017, Kosy’s sales reached 407.6 billion dong, increasing by 170%; and the profit after tax was 26.5 billion dong, increasing by nearly 30% compared to 2016. Ealier, in 2016, Kosy’s business results grew strongly compared to 2015.
The jump in Kosy’s business results over the past two years has been largely contributed by a series of projects beginning to enter the period of recognition of revenues and profits such as Kosy Mountain View urban area (Lao Cai), Kosy Song Cong urban area (Thai Nguyen), Kosy Bac Giang urban area (Bac Giang), Kosy Gia Sang urban area (Thai Nguyen), etc…
Thanks to the planning vision as well as the persistent investment strategy with “infrastructure opening the door to success” thinking towards sustainable value creation, the projects not only bring revenues and profits but also enhance the brand value of the Group in general and Kosy in particular.
In the two years 2016 – 2017, Kosy was one of the few enterprises to be consecutively honored at “Vietnam’s Strong Brand Award” organized by Vietnam Economic Times and Vietnam Trade Promotion Agency (Ministry of Industry and Trade) to honor 100 enterprises with excellent business achievements and strong competitiveness in the period of international integration.
To win this award, Kosy as well as other enterprises must satisfy seven strict criteria including: business performance, brand name protection, product and service quality, leadership, human resources, corporate responsibility and commitment to environmental protection.
The achievement of “Vietnam’s Strong Brand” title shows the result of a striving process, and the consecutive achievement shows the sustainable and stable growth of Kosy. In particular, the main driver of success is not simply the acquisition of potential lands, but rather the human resources and strategic management that the company has been steadily building.
With objective-based management model, the operation of the Management Board of Kosy becomes easier, while the units are well aware of the common objectives of the Group as well as the individual objectives of each unit. As a result, personnel in the whole system can be active and creative in their work, while creating the highest value according to the set objectives. In addition, they are still directly supervised and supported from other departments or from the Management Board.
This is one of the essential factors for investors to see more accurately the future value to be achieved when investing in, holding shares, and accompanying the long-term development of the enterprise, especially when Kosy has become a public company with registered trading on UPCoM since December 2017. At present, the company plans to move to a bigger floor such as HOSE or HNX in 2018.
Talking to the reporter of Securities Investment News before the annual general shareholders’ meeting held on the coming 28 April, Mr. Nguyen Viet Cuong, Chairman of the Board of Kosy Group cum Chairman of the Board of Kosy Joint Stock Company forecasts that 2018 will continue to be a year of new progress with Kosy and the Group.
In addition to potential projects which have been being implemented such as Kosy Hanoi Complex urban area (Hanoi), Kosy Viet Tri urban area (Phu Tho), Kosy Nghe An urban area (Nghe An), Kosy Ninh Binh urban area (Ninh Binh), etc., Kosy Group has constantly expanded its business scale as well as engaged in new business fields such as hydropower with projects in Lai Chau, solar energy with projects in Binh Thuan, and information technology which is started with e-commerce with potential applications in the 4.0 technology era.
“The development of projects has been carefully calculated by us, based on both subjective and objective assessments of the future development of markets surrounding the project areas. Therefore, Kosy’s objective in 2018 is to reach 1,500 billion dong in revenue, aiming towards 5,000 billion dong in revenue in 2025”, said Mr. Cuong.
– Source: Securities Investment News –