ROS plans $21m dividend payout, defends profit tally

ROS expects to spend about VNĐ 四 七 三- 五 六 八 billion (US$ 二 一- 二 五 million) for the  一0- 一 二% dividend payout in  二0 一 七. — Photo faros.vn

 

HÀ NỘI – FLC Faros Construction Joint Stock Company (ROS) expects to beat its  二0 一 七 profit target soon and will pay a dividend rate of  一0- 一 二 per cent for this year, the company has announced.

At this rate, the company is forecast to spend about VNĐ 四 七 三- 五 六 八 billion (US$ 二 一- 二 五 million) for the dividend payout on a total  四 七 三 million outstanding shares in the market.

ROS posted an after-tax profit of VNĐ 二0 八 billion ($ 九. 二 million) in the nine months through September, approximately  三 六 per cent of its yearly target of VNĐ 五 八0 billion ($ 二 五. 六 million).

However, the company’s CEO Đỗ Quang Lâm said the accounting of revenue and profit of a construction company can be irregular and depends on the implementation process of individual projects.

With the breakthroughs ROS has made in Engineering Procurement Construction (EPC) activities and its newly begun projects, the executive believes the company will meet its profit target ahead of schedule.

The value of contracts and projects that the company has signed and carried out has reached VNĐ 二0. 一 trillion, including large-scale deals such as the Quảng Bình golf, villa and high-end entertainment project worth VNĐ 五. 六 trillion and the second phase of the FLC Vĩnh Phúc project worth VNĐ 一. 四 trillion.

It expects to record combined revenue of VNĐ 三. 五 trillion from  一 二 major projects. It is also speeding up the implementation for handover in the  二0 一 七- 一 八 period at a wide range of projects such as FLC Garden City, FLC Twin Towers and FLC Hạ Long complex.

Heavyweight on the VN-Index

The price of ROS shares has more than doubled this year, rising from VNĐ 一0 四,000 per share to over VNĐ 二 一 四,000 each. It has become one of the top three most expensive stocks on the HCM Stock Exchange in over one year since its debut on September  一,  二0 一 六.

Together with brewer Sabeco (SAB), ROS is seen as the main push behind the expansion by  二 七 per cent of the benchmark VN-Index since the beginning of this year.

ROS and SAB are two of the top  一0 biggest stocks by market value on the HCM Stock Exchange and their movements heavily influence the index.

According to SSI Research, the growth of these two stocks accounted for over  五0 per cent of the VN-Index’s gains. Without the two stocks, the VN-Index may have increased by only  一 一. 八 per cent.

According to analysts, the large impact of the two stocks on the market may affect investors’ evaluation about the overall market outlook. – VNS

ROS plans $21m dividend payout, defends profit tally