A stretch of pipeline is coated at PetroVietnam Coating Corporation (HNX: PVB). The company is among the three HNX30 large-caps that posted losses between July and September. (Photo pvcoating.vn)Hanoi (VNS/VNA) — The top60 biggest companies by market capitalisation and trading liquidity on the twolocal stock exchanges saw combined post-tax profit gain of 22.5 percent to 46.75trillion VND (2 billion USD) in the third quarter of 2019.
Profits recorded by the top 30 firms onthe Ho Chi Minh Stock Exchange accounted for nearly 92.3percent of the total figure.
They posted 43.14 trillion VND in Q3 post-tax profit, up 23.8 percent year on year. The figure was 12times the profits made by the 30 top companies on the Hanoi Stock Exchange, which was 3.6 trillion VND.
After nine months, the 60 biggest listedcompanies on the two local exchanges earned a total of 113.86 trillion VND in post-tax profit, a yearly increase of 14.6 percent.
In terms of total asset, VN30 companieshad more than 7 trillion VND worth of assets onSeptember 30. The figure was 8.3 times HNX30 firms’ and up 2.3 percent from theprevious quarter ending June 30.
Twenty-one of the 30 firms in the VN30basket announced annual profit growth in the third quarter and nine others hadnegative earnings growth rates.
Lender Sacombank (STB) and insurer Bao Viet Group (BVH) were the two firms recording the biggestjumps in earning growth rates.
Other VN30 firms that also recorded strongannual increase of profits in the third quarter included Vietcombank (VCB),property developer Vinhomes (VHM), Techcombank (TCB), VPBank (VPB) and MasanGroup (MSN).
On the opposite end, steel producer Hoa Phat (HPG), multi-sector business Vingroup (VIC), realestate firm Novaland (NVL), PetroVietnam Gas Corp (GAS), building contractorCoteccons (CTD) and SSI Securities Corp (SSI) were the firms whose profits inthe third quarter of 2019 were beaten by last year’s figures.
Three companies in the HNX30-Index postinglosses in the third quarter were PetroVietnam Coating Corporation (PVB), Tri Viet Group (TVC) and constructor Vimeco JSC (VMC).
According to analysts and investors, shareprices of HNX30 firms are lower than those of VN30 companies because of thelower earnings recorded by the former.
HNX30 companies’ shares ranged from 1,300 VND per share to 85,800 VND per share at November 15 close.
Meanwhile, none of the VN30 firms’ stocksended last week below the stock’s par value of 10,000 VND per share./.
