Company owns 3 large golf courses in Binh Duong, 9-month profit increased 4,400%

lãi - Ảnh 1. — A Protrade golf course - Photo: PROTRADE

In the recent financial reporting season, Binh Duong Production - Import - Export Corporation - JSC (Protrade) was one of the enterprises with outstanding net profit growth.

Protrade recorded net revenue of nearly VND 367 billion in the third quarter of 2025, an increase of more than 76% over the same period in 2024. After deducting cost of goods sold, gross profit reached more than VND 159 billion, 4.4 times higher than the same period.

In terms of expenses, financial expenses recorded more than 2 billion VND, down more than 89% compared to the third quarter of 2024. Sales expenses were more than 12 billion VND. Management expenses increased slightly. After deducting expenses, the company's after-tax profit was more than 85 billion VND, while in the same period last year it lost nearly 1.5 billion VND.

In the first 9 months of the year, Protrade achieved nearly 735 billion VND in net revenue, an increase of more than 13% over the same period. Meanwhile, cost of goods sold, selling and administrative expenses remained almost unchanged over the same period. Financial expenses decreased sharply.

Therefore, the company's after-tax profit reached more than 78 billion VND, 11.2 times higher than the same period last year. In particular, the parent company's after-tax profit (net profit) reached nearly 49 billion VND, an increase of about 4,388% compared to the first 9 months of 2024. With this result, the company has achieved nearly 74% of the profit plan.

According to the explanation from the business side, the extraordinary results were mainly due to favorable business operations at member units.

By the end of the third quarter, Protrade's total assets reached over VND5,666 billion, up 1.7% compared to the beginning of the year. Of which, cash remained at nearly VND446 billion, up nearly 26%. The company invested over VND621 billion in short-term financial investments. The company's long-term assets focused on fixed assets (VND1,401 billion) and long-term receivables (nearly VND848 billion).

Owner's equity reached 3,950 billion VND. Liabilities were 1,716 billion VND, including nearly 520 billion VND in short-term payables and 745 billion VND in other short-term payables.

Protrade operates in the fields of trade, golf course services, industrial park infrastructure, and hospitals. The company said that garment is its main import-export industry, supplying 140,000 textile products per month to the European, Hong Kong, and American markets with famous brands such as Buckle, Rock Revival, and Pacsun.

This corporation has 6 subsidiaries in Cambodia and Vietnam. Among them is Palm Song Be Golf Course Company Limited, which specializes in golf course services. This unit owns 3 large golf courses in Binh Duong including Song Be Golf Resort, Twin Doves Golf Club (165ha), Harmonie Golf Park (90ha).

In addition, the corporation also has a milk processing segment through its member company, FrieslandCampina Vietnam Co., Ltd. The financial report shows that in the first 9 months of 2024, Protrade received 13.5 billion VND in dividends and profits from FrieslandCampina Vietnam, but in the first 9 months of 2025, this amount was no longer recorded.

NGUYEN NGUYEN

Source: https://tuoitre.vn/cong-ty-so-huu-3-san-golf-lon-o-binh-duong-lai-9-thang-tang-4-400-20251119083059282.htm