Hanoi (VNA) - Vietjet Aviation JointStock Company (HOSE code: VJC) recorded a strong yearly increase of 103 percenttaking its 2017 after-tax profit to more than 5 trillion VND (223 million USD).

This profit also surpassed by 150 percent thetarget set earlier, according to its 2017’s audited consolidated financialresults released last week.

During the year, the company’s net revenue stoodat 42.3 trillion VND, an increase of nearly 45 billion VND while cost of salesdecreased from 36.3 trillion VND to 35.75 trillion VND.

Profit attributed to shareholders of the parentcompany increased from 4.52 trillion VND to more than 5 trillion VND,equivalent to an increase of 546 billion VND. Earnings per share (EPS) stood at11,356 VND, an increase of 73 percent year on year.

With an increase of profit attributable toshareholders of the parent company, Vietjet’s unallocated profit up to December31, 2017 topped 5.8 trillion VND.

Previously, the company raised its 2017 dividendpayout from 50 percent to 60 percent due to the positive business results.Vietjet advanced the 2017 cash dividend payment at the rate of 30percent and planned to pay the other 30 percent dividend by shares. 

Vietjet is the first airline in Vietnam tooperate as a new-age airline with low-cost and diversified services to meetcustomers’ demands. It provides not only transport services but also uses thelatest e-commerce technologies to offer various products and services forconsumers. Vietjet is a member of the International Air Transport Association(IATA) with the IATA Operational Safety Audit (IOSA) certificate.

The airline was also named as one of the Top 500Brands in Asia 2016 by global marketing research company Nielsen and the “BestAsian Low Cost Carrier” at the TTG Travel Awards 2015, which compiles votesfrom travelers, travel agencies and tour operators in throughout Asia andAsia’s Best Employer Brand by the Employer Branding Institute and World HRDCongress for many years. The airline was also rated as one of the top threefastest growing airline brands on Facebook in the world by Socialbakers.

Currently, the airline boasts a fleet of 56aircraft, including A320s and A321s, and operates 385 flights each day. It hasalready transported more than 55 million passengers on a network featuring 82routes in Vietnam and across the region to international destinations such asThailand, Singapore, the Republic of Korea, Taiwan, Hong Kong, China, Malaysia,Indonesia, Myanmar and Cambodia.

Looking ahead, the airline plans to furtherexpand its network across the Asia Pacific region. To prepare for this plan,Vietjet has signed agreements with the world’s leading aircraft manufacturersto purchase more brand-new and modern aircraft.-VNA