High-speed ferry company Superdong – Kien Giang reports a sharp decline in profits due to a decrease in tourist arrivals to Phu Quoc.
Superdong – Kien Giang Joint Stock Company (stock code SKG) has just released its financial report for the third quarter of 2023, with a net revenue of VND 91.3 billion, a 21% decrease, and a post-tax profit of nearly VND 8 billion, a 42.3% decrease compared to the same period last year. According to the company’s explanation, there are two main reasons for the profit decline in the third quarter.
Firstly, information about tourism in Phu Quoc often involves high costs and price gouging, causing tourists to choose destinations with lower expenses.
The high-speed train company to Phu Quoc suffered a sharp decrease in profits because customers criticized Pearl Island as being expensive
Secondly, the weather in the third quarter of 2023 featured continuous heavy rainfall and storms, especially during the peak summer and September 2 holiday period. Superdong – Kien Giang had to suspend all routes, resulting in many canceled trips and stranded passengers on the islands. This has led to a fear of traveling during the rainy season among customers.
The explanatory document also highlights that, in light of these negative macroeconomic factors, the People’s Committee of Kien Giang Province held meetings with relevant departments and agencies to find solutions for the recovery of tourism in Phu Quoc. Furthermore, to minimize business risks, Superdong – Kien Giang has planned to reschedule its route operations to align with the current passenger volume in order to optimize costs. They are also implementing several commercial promotion programs to stimulate tourism demand.
Superdong – Kien Giang is a company that operates 16 high-speed ferries and two passenger ferries, transporting passengers, vehicles, and cargo from the mainland to Phu Quoc, Nam Du, Con Dao, and Phu Quy. It is one of the major players in sea transport to popular tourist destinations on the islands.
In total, after nine months, the company achieved a revenue of VND 340 billion, a slight 4% increase compared to the same period last year, equivalent to 71% of the annual plan. Post-tax profit reached over VND 76.5 billion, a 54% increase over the same period, surpassing the set target.
In 2023, Superdong – Kien Giang aims for a net revenue of nearly VND 478 billion and post-tax profit of over VND 72 billion, corresponding to a 17% and 67% increase, respectively, compared to the performance in 2022.
@Thanhnien.vn
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