Sasco is about to pay an interim dividend of 80 billion VND

Sasco announced that it will soon spend 80 billion VND to pay the first cash dividend in 2024 at a rate of 6% of charter capital, meaning each share will receive 600 VND.

Tan Son Nhat Airport Services Joint Stock Company (Sasco, stock code: SAS) has just announced the closing of the list of shareholders to receive the first interim dividend payment in 2024 at a rate of 6%, equivalent to 600 VND per share.

The company said the last registration date is September 17 and payment date is September 27. With 133.4 million shares listed, Sasco is estimated to spend VND80 billion to pay dividends. This dividend payment is made according to the resolution passed at the annual shareholders' meeting in April.

Last year, Sasco set aside VND243 billion to pay dividends at a total rate of 18.26%. The company paid an 8% dividend in cash and currently has 10.26%, equivalent to VND137 billion, unpaid.

Regarding business performance, Sasco recorded net revenue in the second quarter of 2024 of VND654 billion, up 8% over the same period last year. Duty-free sales contributed VND226 billion, up slightly from VND216 billion in the second quarter of last year and accounted for the largest proportion in the company's revenue structure. Revenue from lounge operations also increased sharply, from approximately VND134 billion to VND179 billion.

Gross profit from sales and service provision reached VND370 billion, up 22.5% over the same period. Gross profit margin in this period reached 56.6%, significantly increased compared to 50% in the same period.

Accumulated for the first half of the year, Sasco had net revenue of VND 1,335 billion, up 13.8% compared to the first 6 months of 2023. Pre-tax profit reached VND 140 billion and after-tax profit reached VND 113 billion, up 7% and 2.8% respectively over the same period.

This year, Sasco sets a revenue target of VND2,903 billion, up 5% compared to last year. Of which, net revenue from production and business activities is VND2,788 billion, up 8% compared to 2023 and pre-tax profit increases by 3%, to VND343 billion. This plan is built by the company based on the forecast that the aviation industry will still face many challenges in terms of exchange rates, fuel prices, and the openness of key international markets.

After half a year, the company has completed 48% of its revenue and 41% of its profit plan.

At the annual meeting, Mr. Johnathan Hanh Nguyen - Chairman of Sasco Board of Directors - predicted that the economy will recover better this year, but the aviation industry still faces many major challenges in terms of fuel prices, exchange rates, and the level of openness of key international economies.

In that context, the company will focus on Tan Son Nhat Airport, focusing on duty-free sales, lounges and other services. In addition, the company will continue to innovate and enhance effective business development activities, while taking advantage of development opportunities at Terminal T3 of Tan Son Nhat Airport and Long Thanh International Airport. Mr. Johnathan Hanh Nguyen commented that Long Thanh will replace the role of Tan Son Nhat Airport and the future of Sasco there.

As of the end of the second quarter, Sasco had total assets of VND2,216 billion, a slight decrease compared to VND2,249 billion at the beginning of the period. Liabilities were over VND755 billion, a slight decrease compared to VND765 billion at the beginning of the year. The company's equity currently reached VND1,461 billion, and undistributed profit after tax was approximately VND122 billion.

In line with the market's increase at the end of the week, SAS shares accumulated 2.03% to VND30,200. The volume of successful orders also skyrocketed to 14,100 units. The transaction value reached more than VND422 million, 4.5 times higher than the previous session.

Source: https://baodautu.vn/sasco-sap-tam-ung-co-tuc-80-ty-dong-d222605.html