Listed firms return to profit growth

By Dat Nguyen   October 28, 2020 | 11:47 am GMT+7
Listed firms return to profit growth
Workers make garment products at a factory in the southern province of Long An. Photo by VnExpress/Quynh Tran.
Listed companies have reported an average profit increase of 7.4 percent year-on-year in the third quarter, and said they are equivalent to pre-Covid levels.

So far 347 listed companies have released their Q3 results, which show that most non-financial businesses affected by the pandemic are seeing good recovery, according to financial data provider FiinGroup.

The figures do not include those of state-owned carrier Vietnam Airlines which has achieved losses of VND5.64 trillion ($243 million) this year due to extreme travel restrictions.

If its results are included, the combined profit figure will fall by 24.1 percent year-on-year in the third quarter. It had fallen by 33.6 percent in the second quarter.

Strong growth was seen in auto, retail and resources sectors.

Autos and parts posted Q3 revenue growth of nearly 50 percent. Car sales in September were the year’s highest, according to data from the Vietnam Automobile Manufacturers Association.

The retail sector saw revenue growth of 34.1 percent, seven times the previous quarter figure. FiinGroup analysts said a surge in the sales of electronic goods including smartphones was the main reason for the growth.

Resources also saw revenue growth of 34.1 percent, with steel giant Hoa Phat Group putting in a robust performance.

 
 
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