Most listed Vietnamese companies in the black

By Minh Son   November 12, 2018 | 06:11 pm PT
Most listed Vietnamese companies in the black
Vietcombank's net profit grew 15.1 percent from January to September 2018. Photo by Reuters/Kham
Eighty-six percent of 845 businesses listed on Vietnam’s stock markets made profits in the first nine months of 2018.

According to stock market database FiinPro, a subsidiary of financial information corporation StoxPlus, these 845 businesses are those that have announced business results as of Nov.7.

The banking sector, consisting of 17 listed banks, topped the market with a net profit growth of 39 percent, lower than the 50 percent plus growth they recorded in the first half of this year.

Three banks that had the highest credit growth rate since the beginning of the year are TPBank at 16.1 percent, HDBank (15.7 percent) and Vietcombank (15.1 percent).

The finance sector came second in profit growth at 32 percent, and industrial services third at 31 percent.

Telecommunications recorded the sharpest decline in growth at minus 103 percent, while construction-materials ranked second from the bottom at minus 24 percent.

The data also shows that 143 businesses, or 17 percent, have completed their annual plan in the first nine months. Some of them have enjoyed high profit growth, like sugar producer Quang Ngai Sugar at 406 percent of its target; agriculture giant Hoang Anh Gia Lai (HAGL) at 230 percent of its target; and food corporation Vinh Hoan at 167 percent of its target.

Despite the growth of notable companies, StoxPlus data shows that the Vietnamese market’s net profit growth has slowed down in the last four quarters, from 42 percent in Q4 last year to 9 percent in the Q3 this year.

The total net profit of the 845 businesses was over VND169 trillion ($7.22 billion), up 16.6 percent year-on-year and met 74 percent of the year’s target.

These businesses account for 86 percent market capitalization of Vietnam’s three stock market exchanges: Ho Chi Minh Stock Exchange (HOSE), Hanoi Stock Exchange (HNX), the second biggest and UPCoM for unlisted public company.

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