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| HSC reported that average daily trading in the first quarter of this year was VNĐ2.76 trillion, up 23 per cent from 2016. — Photo ndh.vn |
Viet Nam News
HCM CITY — The HCM Securities Corporation (HSC) aims to achieve total revenue of VNĐ1.01 trillion (US$44.3 million) this year, up 23 per cent year-on-year, with the goal for after-tax profit set at VNĐ391 billion, up 19 per cent.
HSC made the announcement at its annual shareholders meeting for the fiscal year 2016 held in HCM City on Monday.
HSC reported that average daily trading in the first quarter of this year was VNĐ2.76 trillion, up 23 per cent from 2016 and 4 per cent higher than the plan for the year.
The company earned VNĐ219 billion revenue in the quarter, while after-tax profit hit VNĐ95 billion.
In the past year, HSC’s brokerage market share was 11.2 per cent, surpassing the 10.4 per cent market share in 2015. HSC ranks second in market share for brokerage and fund certificates in the market.
For all of 2016, HSC’s individual customer sector achieved average market share of 9.6 per cent in domestic customer transactions, higher than the 8.9 per cent in 2015 but lower than the target of 10.8 per cent for last year.
Online news website ndh.vn quoted Johan Nyvene, CEO of HSC as saying that the reason for not hitting the target was partly because the management board wanted to limit the risk of granting loans to some stocks.
A number of stocks traded in the market negligently through HSC or ineligible for HSC to issue margins was another reason, he said.
Foreign investor trading activities at HSC accounts for 28.5 per cent of total foreign trading on the domestic stock market.
Net sales of the company reached VNĐ824 billion last year, while net profit reached VNĐ305 billion, up 39 per cent and 43 per cent respectively from 2015, reported HSC’s board of directors.
With this result, HSC surpassed 12 per cent of revenue target and 1 per cent of profit plan approved by last year’s annual shareholder meeting.
According to initial plans, HSC set a dividend of 12 per cent for last year and paid a cash dividend for the first phase at a rate of 5 per cent, which was paid in January this year.
The board of directors also submitted a plan to shareholders to increase the dividend in 2016 from 12 per cent to 17 per cent.
HSC also asked shareholders to increase the foreign ownership cap from 49 per cent to 100 per cent. — VNS
