Kien Giang high-speed ferry company's profits plummet as customers complain about Phu Quoc's high price

Superdong - Kien Giang High-Speed Boat Joint Stock Company (code SKG) has just announced its financial report for the third quarter of 2023 with net revenue reaching VND 91.3 billion, down 21% and after-tax profit of nearly VND 8 billion, down 42.3% compared to the same period last year. According to the company's explanation, the third quarter profit decrease has two main reasons. First, information about tourism in Phu Quoc is often overcharged, high prices... leading to tourists changing destinations to places with lower costs.

Second, the weather in the third quarter of 2023 was stormy and rainy, especially during the peak summer season and the September 2nd holiday. Superdong - Kien Giang had to stop operating all routes, many passengers canceled their flights, and at the same time, passengers who had traveled to the island were stranded and could not return. This led to customers being very afraid of traveling during the stormy season...

Hãng tàu cao tốc Kiên Giang lao dốc lợi nhuận do khách 'chê' Phú Quốc đắt đỏ - Ảnh 1. — High-speed ferry company to Phu Quoc suffers sharp drop in profits as customers complain about expensive pearl island

The explanatory document also stated that, in the face of negative factors at the macro level, the People's Committee of Kien Giang province has met with relevant departments and branches to find solutions to restore tourism in Phu Quoc province. In addition, to minimize business risks, Superdong - Kien Giang has also planned to reallocate the operating schedule of routes in accordance with the current number of visitors to optimize costs, and at the same time implement many trade promotion programs to stimulate tourism.

Superdong - Kien Giang is a company that operates 16 high-speed boats and two ferries transporting passengers, vehicles, and goods from the mainland to Phu Quoc, Nam Du, Con Dao, and Phu Quy. This is one of the shipping companies holding a large market share in sea transport to the famous tourist islands.

In total, after 9 months, the company achieved revenue of 340 billion VND, a slight increase of 4% over the same period last year and equivalent to 71% of the yearly plan. Profit after tax reached more than 76.5 billion VND, an increase of 54% over the same period and exceeded the set plan.

In 2023, Superdong - Kien Giang sets a target of net revenue of nearly 478 billion VND and after-tax profit of over 72 billion VND, respectively increasing by 17% and 67% compared to 2022.

Source link