Illustrative photo (Source: cafe.vn)Hanoi (VNS/VNA) - As many as 706 enterprises, 85 percent of 832listed companies on the Vietnamese stock market, generated profits during thethird quarter of this year.
The information was released by financial services company Stockplus' FiinproPlatform.
Market capitalisation value of the 832 firms accounts for 95 percent of thewhole 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 netvalue of 73.6 trillion VND (3.16 billion USD) recorded in Q3, an increase of22.8 percent over the same period last year.
Telecommunications, insurance and banking were the sectors with the highest netprofit growth, respectively up by 355.4 percent, 49.3 percent and 45 percent.
Communication, chemicals and petroleum were the sectors with the strongestdeclines, down by 97.3 percent, 35 percent and 28.5 percent respectively.
Among the gainers, the banking industry recorded an impressive net profitvalue, earning 22.8 trillion VND, accounting for 31 percent of the market’s netprofit value.
In Q3, Vietcombank (VCB) was the best performer in the banking industry,achieving more than 5 trillion VND in net profit, up 72 percent year-on-year.Next were Techcombank (TCB) and Vietinbank (CTG), reporting net profit of 2.6trillion VND and 2.5 trillion VND, respectively.
The real estate sector recorded a net profit of 11 trillion VND in the thirdquarter, up 19.7 percent from more than 9 trillion VND recorded last year,accounting for 15 percent of the total market’s net profit.
Realty giant Vinhomes (VHM) alone contributed 5.5 trillion VND, accounting for50 percent of the sector’s total net profit, followed by Vincom Retail (VRE)and Vingroup (VIC), collecting 717 billion VND and 498 billion VND in netprofit, respectively. Excluding Vinhomes (VHM)’s profit, the whole real estatesector only grew by 3 percent 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 netprofit of 340 billion VND, accounting for 81.3 percent of the industry's totalnet profit.
But the net profit of the telecommunication sector accounted for only 0.6 percentof the market’s total net profit.
The insurance sector made up of more than 1 percent of market’s total netprofit, equivalent to 774 billion VND, mainly thanks to Bao Viet Holdings(BVH), earning 360 billion VND, up by 3.6 times year-on-year and PetroVietnamInsurance (PVI), collecting 156.1 billion VND.
In the opposite direction, the communication sector saw the strongest drop innet profit with the total net profit slumping from over 300 billion VND in Q3,2018 to only 8 billion VND in Q3 this year, equivalent to a plunge of 97.3 percent.
This was due to the net loss of 120 billion VND of the Media firm Yeah1 Group(YEG) in Q3.
The chemical industry saw a net profit of 1.7 trillion VND, mainly thanks tothe main contribution of the Vietnam Rubber Industry Group JSC (GVR) (980.4billion VND) and Phuoc Hoa Rubber Co (PHR) (444.8 billion VND)./.
VNA
