Phat Dat Real Estate Development Joint Stock Company (stock code: PDR) has just announced its consolidated financial report for the fourth quarter of 2023, revealing the income fluctuations of its senior leaders.
Mr. Nguyen Van Dat - Chairman of the Board of Directors - received a salary of nearly 483 million VND in the last quarter, while in the same period last year it was nearly 2.2 billion VND. This figure decreased by 78% - the deepest decrease in the company's leadership.
The highest paid person is Mr. Bui Quang Anh Vu - General Director - with more than 1.4 billion VND in the quarter, equivalent to about 467 million VND/month. However, this income has also decreased by 20% compared to the same period last year.
In total, the income of members of the Board of Directors, the Board of General Directors, the Chief Accountant and the person in charge of administration in the fourth quarter of 2023 decreased by 40% compared to the same period. The total amount the enterprise had to pay was VND 5.3 billion.
Mr. Nguyen Van Dat - Chairman of Phat Dat reduced income in the fourth quarter of 2023 (Photo: PDR).
Phat Dat is a real estate company specializing in housing and industrial parks, operating mainly in the Central and Southern regions, with projects stretching from Da Nang, Quang Ngai, Binh Dinh to Ho Chi Minh City, Binh Duong , Dong Thap, Phu Quoc. The land fund that the company announced to develop for housing projects is about 4,000 hectares and for industrial parks is about 3,000 hectares.
In the fourth quarter of 2023, the company had revenue of 68 billion VND, 4.6 times higher than the same period last year, but profit still reached more than 282 billion VND (while in the same period it lost more than 229 billion VND). This result came from the company transferring its subsidiary.
According to the announcement in November, the company transferred all 99.8% of shares in Phat Dat Industrial Park Investment and Development Joint Stock Company (PDI). On the financial report, Phat Dat's ownership ratio in PDI has also decreased to 0%.
In 2023, the company achieved revenue of VND618 billion and after-tax profit of VND682 billion, down 59% and 40% respectively compared to the same period last year. However, the company exceeded the planned profit of VND680 billion.
This enterprise is one of the units making efforts to handle bond debt. As of December 31, 2023, the company owed VND 3,105 billion in financial loans, down 30% compared to the beginning of the year, meaning it had paid VND 1,335 billion, most of which was long-term debt. The company also has no more bond debt.
Ending inventory was over VND12,199 billion, equivalent to the beginning of the year, accounting for 58% of total assets. Inventory is real estate, including the value of compensated land fund, land use fees paid to the State, site clearance costs, construction costs and investment costs for ongoing real estate projects.
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