An investor watches stocks move at Vietcombank Securities Company. Vietnam’s stock market has 23 companies valued at over 1 billion USD. (Photo: VNA)Hanoi (VNA) - Vietnam’sstock market has 23 companies valued at over 1 billion USD and most of themhave reported higher business results in the first half of this year.
Vinamilk (VNM), the biggestlisted firm, is also the most profitable company with the six-month profit ofnearly 5.9 trillion VND (258 million USD), up 18 percent over the same periodof last year.
In the first half, Vinamilk’sturnover from overseas markets shrank from 19 percent last year to only 15 percentthis year, but takings from the domestic market rose by 10 percent, owing toheavy spending on advertisement worth around 396 billion VND.
In terms of revenue, petrolretailer Petrolimex (PLX) was on the top of the list with over 74 trillion VND(3.25 billion USD), up 26 percent year-on-year. Revenue growth was attributableto increases in global oil prices averaging at 25.6 percent in the first sixmonths of this year.
However, due to a higher costprice and rising financial expenses, including exchange losses, Petrolimex’sprofits declined 12 percent year-on-year to just 1.8 trillion VND (79.3 millionUSD).
Seven of the nine listed bankshave market cap of over 1 billion USD but their profits accounted for nearly 40percent of total earnings of 23 largest listed businesses.
The profit growth of the bankingsector averaged 30 percent in the first six months while that of thenon-banking groups was only 3 percent.
Vietcombank (VCB), the biggestlisted lender with a market cap of 6.1 billion USD, reported the highest profitof 4.2 trillion VND (185 million USD) on revenues of 15 trillion VND (660.8million USD) in the first half, up 23 percent in profit and 19 percent inrevenues over the same period of last year.
Vietinbank (CTG) and BIDV (BID)ranked second and third in terms of profits. Vietinbank posted first-halfprofit of 3.9 trillion VND (171.8 million USD) and revenue of 16 trillion VND(704.8 million USD), up 15 percent and 26 percent, respectively.
BID’s turnover rose 24 percent tonearly 16.8 trillion VND (740 million USD) but its net profit edged up just 2 percentto over 2.7 trillion VND (118.9 million USD).
Non-State commercial banksincluding Military Bank (MBB), Asia Commercial Bank (ACB), VPBank (VPB) andSacombank (STB) reported higher growth of over 50 percent, of which Sacombank’sprofit shot from just 3 billion VND in 2016’s first half to 422 billion VND inthe first six months of this year.
Profit of VPBank also doubled to 2.6trillion VND in the reporting period.
Only four companies reportedslower sales but up to eight companies saw a decrease in profits in the firstsix months.
Turnovers of Masan Group (MSN)and its consumer arm Masan Consumer (MSN) dropped by 6 percent while their netprofits plummeted 56 percent and 36 percent, respectively.
Masan Group’s slowing businesseswere mainly driven by drops in Masan Consumer whose food and beverage revenuesdecreased 13.4 percent and in Masan Nutri-Science caused by falling retail pigprices of 34-40 percent.
Two businesses in aviation alsosaw their profits slide substantially.
National flag carrier VietnamAirlines (HVN) reported net profit of 766 billion VND (33.7 million USD), down54 percent year-on-year, attributed to the rise in petrol prices of 37 percentover the same period of last year. Meanwhile, profit of Airports Corporation ofVietnam (ACV) dropped by 16 percent to nearly 2.1 trillion VND (92.5 millionUSD).
Other companies reporting slowerprofit growth included Petrolimex, Sabeco, FLC Faros Construction and realestate developer Novaland Investment Group.-VNA
VNA
