Tourists increase sharply, why is Dam Sen Park's owner still losing money?

The Hanoi Stock Exchange (HNX) has just announced the financial report for the first quarter of 2025 of Phu Tho Tourist Service Joint Stock Company (Phu Tho Tourist, stock code: DSP), in which this enterprise recorded a net revenue decrease of 28.3% compared to the same period, to only 46.5 billion VND.

After deducting expenses, the company's after-tax profit was negative VND5 billion, while in the same period last year it made a profit of VND5.5 billion. This is the third consecutive quarter that the company has made a loss.

Phu Tho Tourist's loss reporting move comes amid strong growth in the tourism industry.

Specifically, in the first quarter of 2025, international visitors to Ho Chi Minh City will reach more than 1.6 million. This number increased by more than 18% compared to the figure of more than 1.3 million in 2024.

In March alone, the number increased by nearly 23%, jumping to nearly 600,000 arrivals. The same period last year was only over 480,000 arrivals. Also in the first quarter of 2025, domestic tourists in Ho Chi Minh City had more than 8.5 million arrivals, an increase of more than 6% compared to the same period in 2024 (just over 8 million).

Phu Tho Tourist's business results in recent quarters

In the document explaining the loss in business results, Phu Tho Tourist said that in addition to the net revenue decreasing by more than 28%, the deposit interest rate also decreased compared to the previous year, causing the financial revenue to decrease by VND2.6 billion (equivalent to 18.2%). This made the company's profit negative.

Phu Tho Tourist is managing and operating many business units in the tourism sector, notably Dam Sen Cultural Park, Vam Sat Mangrove Ecotourism Area, Ngoc Lan - Phu Tho hotel cluster...

Among them, Dam Sen Cultural Park has been one of the famous entertainment areas in Ho Chi Minh City for many years, attracting domestic and foreign tourists, especially during holidays and Tet...

Source: https://nld.com.vn/khach-du-lich-tang-manh-vi-sao-chu-quan-cong-vien-dam-sen-van-thua-lo-196250422175751719.htm