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85% of businesses listed on stock market report profit growth in Q3
https://vietnamnews.vn/ - 11/10/2019 5:54:27 PM
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As many as 706 enterprises, 85 per cent of 832 listed companies on the Vietnamese stock market, generated profits during the third quarter of this year.
 
The information was released by financial services company Stockplus' Fiinpro Platform.
 
Market capitalisation value of the 832 firms accounts for 95 per cent of the whole market’s capitalisation value.
 
The rest said they fulfilled profit targets set for the quarter.
 
According to Fiinpro Platform, 832 companies had profits with a combined net value of VNĐ73.6 trillion (US$3.16 billion) recorded in Q3, an increase of 22.8 per cent over the same period last year.
 
Telecommunications, insurance and banking were the sectors with the highest net profit growth, respectively up by 355.4 per cent, 49.3 per cent and 45 per cent.
 
Communication, chemicals and petroleum were the sectors with the strongest declines, down by 97.3 per cent, 35 per cent and 28.5 per cent respectively.
 
Among the gainers, the banking industry recorded an impressive net profit value, earning VNĐ22.8 trillion, accounting for 31 per cent of the market’s net profit value.
 
In Q3, Vietcombank (VCB) was the best performer in the banking industry, achieving more than VNĐ5 trillion in net profit, up 72 per cent year-on-year. Next were Techcombank (TCB) and Vietinbank (CTG), reporting net profit of VNĐ2.6 trillion and VNĐ2.5 trillion, respectively.
 
The real estate sector recorded a net profit of VNĐ11 trillion in the third quarter, up 19.7 per cent from more than VNĐ9 trillion recorded last year, accounting for 15 per cent of the total market’s net profit.
 
Realty giant Vinhomes (VHM) alone contributed VNĐ5.5 trillion, accounting for 50 per cent of the sector’s total net profit, followed by Vincom Retail (VRE) and Vingroup (VIC), collecting VNĐ717 billion and VNĐ498 billion in net profit, respectively. Excluding Vinhomes (VHM)’s profit, the whole real estate sector only grew by 3 per cent against 2018.
 
The telecommunication sector grew 3.5 times higher than the previous year, mainly thanks to the contribution of FPT Telecom (FOX), which recorded a net profit of VNĐ340 billion, accounting for 81.3 per cent of the industry's total net profit.
 
But the net profit of the telecommunication sector accounted for only 0.6 per cent of the market’s total net profit.
 
The insurance sector made up of more than 1 per cent of market’s total net profit, equivalent to VNĐ774 billion, mainly thanks to Bảo Việt Holdings (BVH), earning VNĐ360 billion, up by 3.6 times year-on-year and PetroVietnam Insurance (PVI), collecting VNĐ156.1 billion.
 
In the opposite direction, the communication sector saw the strongest drop in net profit with the total net profit slumping from over VNĐ300 billion in Q3, 2018 to only VNĐ8 billion in Q3 this year, equivalent to a plunge of 97.3 per cent.
 
This was due to the net loss of VNĐ120 billion of the Media firm Yeah1 Group (YEG) in Q3.
 
The chemical industry saw a net profit of VNĐ1.7 trillion, mainly thanks to the main contribution of the Việt Nam Rubber Industry Group JSC (GVR) (VNĐ980.4 billion) and Phước Hòa Rubber Co (PHR) (VNĐ444.8 billion). — VNS
 
Read original article here
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