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Soaring brokerage fees raise VNDirect profits by 90%

Update: October, 24/2014 - 08:01

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HA NOI (VNS) — July-September brokerage fees at VNDirect Securities Co (VND) soared 254 per cent on the year to nearly VND50 billion (US$2.37 million), the firm reported.

Other sales also increased to VND48.8 billion ($2.3 million) and revenue from securities investment rose to VND14.7 billion ($697,000). However, sales cost climbed 960 per cent to VND29 billion ($1.4 million).

Third-quarter revenue rose 122.4 per cent year-on-year to VND114.2 billion ($5.4 million) while net profits reached VND43.4 billion ($2 million), up 90 per cent. As of the end of September, net profit reached over VND121 billion ($5.7 million), up 118 per cent year-on-year. — VNS

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