More listed businesses post profit gains in first half

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.


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Many big listed companies have reported positive earnings in the first half of this year. (Source: sdmmag.com)



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 7.72 trillion VND (340 million USD) in the first half, up 53 percent against the same period of last year and equivalent to 55 percent 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, Tien Phong Bank (TPB) led the sector with first-half pre-tax profit of over 1 trillion VND (44 million USD), a rise of 121 percent year-on-year and exceeding its six-month target by 12 percent.

The second-largest listed lender Vietinbank (CTG) also estimates its six-month pre-tax profit of about 5.2 trillion VND (229 million USD), up over 8 percent against last year.

In the securities sector, Saigon Securities Inc (SSI) was the first firm to report first-half profit, bringing in 885 billion VND (39 million USD) and registering 20 percent growth.

The HCM City-based company continues to lead the brokerage market in both exchanges in HCM City and Hanoi. Its market share reached 20.91 in the first six months, far exceeding second-place Ho Chi Minh Securities Corp with 11.73 percent.

In the retail sector, Digiworld Corp (DGW) posted first-half earnings of 42 billion VND (1.8 million USD) on total revenue of 2.63 trillion (115.8 million USD), up 45 percent in profit and 69 percent in revenue against the same period of last year.

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

State-owned glass and construction material producer Viglacera estimates its pre-tax profit hit about 500 billion VND (22 million USD), equivalent to last year’s first half number. But its second-quarter profit alone surged 33 percent to 353 billion VND (15.5 million USD).

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 percent 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/VNA

More listed businesses post profit gains in first half, vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, Vietnam breaking news
 
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