Tuesday, July 17 2018

VietNamNews

More listed businesses post profit gains in first half

Update: July, 11/2018 - 09:16
Many big listed companies have reported positive earnings in the first half of this year. — Photo sdmmag.com
Viet Nam News

HÀ NỘI – In the early days of July, many listed companies have reported positive earnings for the first half of this year. Most are leading companies in their industries.

At the end of June, some commercial banks have updated their business results with high profit growth and the prospect of exceeding their full-year target.

Vietcombank (VCB), the biggest listed bank by market value, posted pre-tax profit of over VNĐ7.72 trillion (US$335.7 million) in the first half, up 53 per cent against the same period of last year and equivalent to 55 per cent of its yearly target.

The financial indicators which measure the bank’s profitability, such as net interest margin (NIM), return on average asset (ROAA) and return on average equity (ROAE) have also outperformed the general market ratios and increased sharply compared to 2017.

In terms of profit growth, Tiên Phong Bank (TPB) led the sector with first-half pre-tax profit of over VNĐ1 trillion, a rise of 121 per cent year-on-year and exceeding its six-month target by 12 per cent.

The second-largest listed lender Vietinbank (CTG) also estimates its six-month pre-tax profit of about VNĐ5.2 trillion, up over 8 per cent against last year.

In the securities sector, Saigon Securities Inc (SSI) was the first firm to report first-half profit, bringing in VNĐ885 billion and registering 20-per-cent growth.

The HCM City-based company continues to lead the brokerage market in both exchanges in HCM City and Hà Nội. Its marketshare reached 20.91 in the first six months, far exceeding second-place Hồ Chí Minh Securities Corp with 11.73 per cent.

In the retail sector, Digiworld Corp (DGW) posted first-half earnings of VNĐ42 billion on total revenue of VNĐ2.63 trillion, up 45 per cent in profit and 69 per cent in revenue against the same period of last year.

According to the company, strong growth in sales of mobile phones (up 345 per cent) and office equipment (52 per cent) drove its strong performance.

State-owned glass and construction material producer Viglacera estimates its pre-tax profit hit about VNĐ500 billion, equivalent to last year’s first half number. But its second-quarter profit alone surged 33 per cent to VNĐ353 billion.

The company said it has faced strong competition from other domestic producers and import sources. However, as it is operating in both the construction and real estate sectors, the company still expects the full-year results to increase by 7 per cent against last year.

Many other companies have also updated their shareholders with their estimates of first-half earnings, including Vicostone (VCS), PetroVietnam Technical Services Corp (PVS), Sao Ta Foods (FMC) and Vnsteel-Vicasa (VCA). – VNS

 

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