90 per cent of HNX-listed firms reported upbeat performance
90 per cent of HNX-listed firms reported upbeat performance
Listed construction and real estate development firms as well as listed financial institutions on the Hanoi bourse reported glorious profits for 2017.
Specifically, the Hanoi bourse stated that by the end of February, 333 out of 372 firms listed on HNX reported profit, as shown in their financial statement for the fourth quarter in 2017.
According to the fourth quarter financial statements of the 372 listed firms, 333 listed firms reported total profits of VND19.319 trillion ($848.2 million), up 23.1 per cent against 2016.
In particular, businesses in the construction sector were among the best performers as the total profits accumulated in the sector grew by 102.6 per cent on-year, rising from VND1.705 trillion ($74.88 million) in 2016 to VND3.455 trillion ($151.73 million) in 2017.
Likewise, the total earnings in the construction sector grew from VND2.052 trillion ($90.11 million) in 2016 to VND3.556 trillion ($156.17 million) in 2017, commensurate with a 73.3 per cent rise over the course of the past 24 months.
Simultaneously, the construction sector saw a slump in total losses from VND347 billion ($15.23 million) in 2016 to -VND101.6 billion (-$4.46 million) in 2017 a 241.5 per cent decline mainly due to divestments and project transfers in 2017.
In addition, 11 out of 17 listed firms in the real estate sector reported more positive business outcomes in 2017 than in 2016, while the total profits of the 17 listed real estate firms swelled by 48.2 per cent, from VND1.08 trillion ($47.61 million) to VND1.6 trillion ($70.56 million).
Apart from the real estate development sector, the financial sector also witnessed outstanding business results, accounting for the largest proportion of profits among Vietnam-based firms on the bourse.
Specifically, the 21 listed financial institutions secured total profits of VND5.562 trillion ($244.27 million), constituting 31 per cent of the total profits of all listed firms on HNX. Particularly, Asia Commercial Bank (HNX: ACB) and Saigon-Hanoi Commercial Bank (HNX: SHB) accounted for the largest percentage of profits in the financial sector, with 38 and 27 per cent.
