On April 21st, PSD successfully held its 2022 Annual General Meeting of Shareholders. The conference discussed the revenue plan, profit, and future direction of PSD. In 2022, PSD set a revenue target of 10,000 billion VND and a pre-tax profit of 162 billion VND.
At the end of Q1 2022, PSD achieved revenue of VND 2.409 trillion (24% of the annual plan) and VND 46 billion in profits (28.39% of the annual plan). As of March 31, 2022, PSD’s total assets were VND 2.719 trillion and the company currently has VND 182 billion in unallocated profits.
To realize the 10,000 trillion revenue goal and increase capital to meet the business development needs of 2022, the PSD Board of Directors proposed the 2022 annual general meeting to pass a capital increase plan through a stock dividend of 30% and an issue of new shares for existing shareholders at a rate of 40%. After the plan is completed, expected PSD registered capital will increase to VND 520 billion.
As stated in 2022 business plan, PSD will continue to seek and develop new brands, undertake strategic partnerships and M&As aiming at partners within the same distribution ecosystem to expand product and service offerings and drive strong growth in the coming years.