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VietNamNews

VNDirect posts huge loss

Update: January, 19/2012 - 10:12

HCM CITY — VNDirect Securities Co (VND) has posted a loss of VND201.7 billion (US$9.6 million) for 2011, reversing its profit of VND105 billion ($5 million) posted in 2010. In the fourth quarter of last year alone, the firm's loss totalled nearly VND72.3 billion ($3.4 million). VND's earnings reached only VND277 billion ($13.2 million) last year, a decline of 41 per cent compared to 2010, with revenues from self-trading operations plunging by 97 per cent to a mere VND4.4 billion ($209,500).

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