About eight million shares of Noi Bai Cartering Service JSC (NCS) started trading on the unlisted public company market (UPCoM) on December 2.
|Noi Bai Cartering Service has served meals for domestic and international flights in the last thirty years. – Photo cafef.vn|
This followed the Ha Noi Stock Exchange’s permission that allowed 7,999,975 NCS shares to be listed on UPCom at a preference price of VND13,000 (US$0.57) each.
With an experience of more than 30 years as a subsidiary of the Vietnam Airlines Joint Stock Company, NCS has been involved in airline catering, event catering, farming and food processing and import-export activities linked to the catering business.
Besides local airlines, NCS also serves international airlines such as: Asiana Airlines; Malaysia Airlines; Singapore Airlines; All Nippon Airway; Japan Airlines; China Airlines; China Southern Airlines; Korean Air; Russia’s Aeroflot; Dragon Air; Finnair; Hong Kong Airlines; ATS Corporation; Cambodia Angkor Air; FedEx Airways; Qatar Airways; Jetstar;Air France; LOT; Uzbekistan Airways; and Vladivostok Air.
NCS has total assets worth VND150 billion ($6.65 million) and a charter capital of VND80 billion ($3.54 million).
In 2014, it earned VND403.7 billion ($17.9 million) in revenue and VND36.4 billion ($1.614 million) in after–tax profit.
By the end of September this year, NCS fulfilled 92 per cent of its yearly target. NCS will earn an estimated after-tax profit of VND36.1 billion ($1.601 million).
Vietnam Airlines, Southern Airport Services Company and Vietnam Air Caterers own 60 per cent, 10 per cent and 1.7 per cent of the stake in NCS, respectively.
On December 3, each NCS share closed at VND18,200 ($0.8) on the UPcOM market.