Illustrative image (Source: VNA)Hanoi (VNA) – More than 78 percent of businesses listedon the Hanoi Stock Exchange (HNX), or 268 firms, reported profit inthe second quarter of 2020, with combined value of 11.38 trillion VND (491million USD), down 1.14 percent year on year.
According to reports of listed businesses, in the first half ofthis year, total after-tax profit of companies listed on the northern boursereached 10.67 trillion VND, representing a fall of 2.8 percent year on year.Seven out of 11 sectors suffered decrease in profit over the same period in2019.
Meanwhile, five out of 11 sectors reported year-on-year increasein profit, with trade-service-accommodation-restaurant and finance sectorsrecording highest rises with 56.8 percent and 11.7 percent, respectively.
However, only 17 out of 48 businesses in thetrade-service-accommodation-restaurant enjoyed profit in the first half of2020.
At the same time, the sharpest fall in after-tax profit was seenin the real estate sector at 79.4 percent to 103.7 billion VND in the firsthalf of 2020 from 634.3 billion VND in the same period of 2019. It was followedby agro-forestry-fisheries sector with a decrease of 46.9 percent.
Downturn was also seen in mining-oil and gas sector at 12.6percent in the first half of this year, mostly because of adverse impacts ofthe COVID-19 pandemic.
At the same time, 74 businesses posted losses, with combinedvalue of 711.9 billion VND.
Six out of 11 sectors saw year-on-year increases in losses inthe first six months of this year, led by real estate sector which saw totallosses shoot up 341 percent to 121.3 billion VND in the first half of 2020. Themining-oil and gas sector followed with a 225 percent increase in the value oflosses, and transport-warehouse at 241 percent.
The major reason behind the situation was the COVID-19 pandemic,which forced companies to suspend their production and business./.
