Maritime major VIMC records two-fold profit increase in Q2

Vietnam Maritime Corporation (VIMC), the country’s leading maritime service provider, reported an after-tax profit of VND1,434 billion ($61.31 million) in the second quarter of the year, 1.95 times year-on-year.

VIMC’s net revenue reached VND3,964 billion ($169.5 million) in the period, up 15%, according to its consolidated financial report.

In the first half of the year, the company’s net revenue and after-tax profit hit $309 million and $90.77 million, up 19% and 97% year-on-year, respectively.

After six months, VIMC had fullfilled 58% of the year’s revenue plan and 82% of the year’s profit target.

Mediterranean Shipping Company’s MSC Camille docks at SSIT Port, Phu My town, Ba Ria-Vung Tau province, southern Vietnam

At the end of Q2, VIMC’s liabilities was VND13,686 billion ($585.12 million), of which short-term and long-term debt hit VND8,815 billion and VND4,871 billion, respectively.

VIMC is listed on the unlisted public company market UPCoM as MVN. At the closing session on August 10, MVN shares were priced at VND27,800 ($1.19) per unit.