Sun World Phu Quoc owner earns more than 4.5 billion VND per day

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Sun World Phu Quoc owner earns more than 4.5 billion VND per day

Market news

12/09/2024

Phu Quoc Sun - owner of the cable car and Hon Thom sea entertainment complex - escaped losses and reported a profit of more than VND825 billion in the first half of the year, or about VND4.53 billion per day.

In its newly released financial report, Phu Quoc Sun Company Limited recorded a profit after tax of more than VND825 billion. This figure is a big improvement compared to the loss of over VND318 billion in the first 6 months of last year, higher than the profit of the whole year of 2021 and 2023.

The driving force for business recovery comes from the fact that at the end of December 2023, the company put into operation many entertainment projects and products in Sunset Town. Notably, the Cau Hon project attracts many visitors, the night market by the sea and the Kiss of the Sea show held every evening.

By the end of June, the company's equity reached nearly VND10,095 billion, an increase of more than 6% over the same period due to improved business results. Total liabilities increased slightly to about VND57,100 billion. Of which, outstanding bonds accounted for a low proportion, just over VND2,000 billion. In the first half of the year, the company spent more than VND145 billion to pay interest on the bonds, and paid more than VND202 billion for the principal of the bonds.

Phu Quoc Sun Company Limited is the unit directly exploiting, using and managing the investment in the Hon Thom cable car and marine entertainment complex project (Phu Quoc), also known as Sun World Hon Thom Phu Quoc. The project has been in operation since 2018 with the outstanding work being the cable car with a total length of nearly 7,900 m, certified as the longest three-wire cable car in the world.

The marine entertainment area on Hon Thom Island includes items such as the Exotica theme park, Aquatopia water park, restaurants and sea games (canoes, diving, kayaking, jet skiing, inflatable houses). Ticket prices at Sun World Hon Thom Phu Quoc are currently 650,000 VND for an adult and 500,000 VND for children. Tickets include two-way cable car rides, entry to the theme park and water park.

Một góc khu giải trí về đêm tại Sun World Hòn Thơm, Phú Quốc (Kiên Giang). Ảnh: Sun Group

A corner of the night entertainment area at Sun World Hon Thom, Phu Quoc (Kien Giang). Photo: Sun Group

The business results of Sun Phu Quoc grew in the context of tourism on the "pearl island" showing signs of improvement. According to the Department of Tourism of Kien Giang province, Phu Quoc welcomed 3.3 million visitors in the first half of the year, an increase of more than 1% over the same period.

However, in terms of structure, international visitors are the main driving force, reaching nearly 500,000, an increase of more than 44% and nearly 75% of the plan. Phu Quoc is still picky about attracting domestic visitors, the phenomenon of a decrease in flights or empty hotel rooms for domestic visitors is still recorded regularly, even during peak holiday seasons.

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