Construction contractors lose more than trillion in revenue due to ‘printing errors’

Fecon Joint Stock Company (stock code: FCN) listed on the Ho Chi Minh City Stock Exchange corrected its business results report for the fourth quarter of 2025 with a series of highly fluctuating indicators. Accordingly, net revenue decreased by about 1,140 billion VND compared to the initial report, down to 1,572 billion VND. Cost of sales and gross profit were about 1,320 billion VND and 250 billion VND, respectively, a sharp decrease compared to the previous announcement half a month ago.

Key items such as financial revenue, loan interest expenses, sales and business management expenses also decreased by several tens of billions of dong. This causes profit after tax to decrease from 79 billion VND to about 62 billion VND. However, this number is still double the same period last year.

Fecon’s leadership said the error came from the printing process, while other indicators such as assets, equity, debt… remained unchanged.

The company recorded cumulative revenue for the whole year of more than 4,860 billion VND, nearly one and a half times the previous year; Profit after tax is 96 billion VND, three times higher than the same period. This result is less than the target of consolidated revenue of 5,000 billion VND and profit after tax of 200 billion VND approved at the annual meeting in the middle of last year. Fecon currently has total assets of approximately VND 10,200 billion and equity of more than VND 3,300 billion.

Established in 2004, Fecon is a general contractor for infrastructure projects, railways, urban underground, ports, logistics, industrial and energy projects. The company also expanded investment in sustainable industrial park projects, green urban areas, transportation infrastructure and renewable energy.

Fecon is constructing many projects and component items of key transportation projects such as metro line No. 3 Nhon – Hanoi Station, metro line No. 5 Van Cao – Hoa Lac, Lao Cai – Hanoi – Hai Phong railway… Last year, the company in the Thong Nhat Joint Venture won the 900 billion VND bid package of the No. 1 aircraft maintenance service and construction investment project at Long Thanh International Airport.