HSC’s revenue increases five times in Q4/2017
HSC’s revenue increases five times in Q4/2017
HCM City Securities Corporation (HSC) gained strong business growth in the fourth quarter of 2017 (Q4/2017).
Market boom at the end of the year helped brokerage revenue and securities investment of the company to surge.
HSC announced that in Q4/2017, it achieved a year-on-year increase of five times in total revenue to reach VND234 billion (US$10.3 million) and a year-on-year increase of 2.5 times in after-tax profit.
As a result, the corporation earned a total revenue of VND1,537.5 billion last year and after-tax profit of VND544 billion, up 86.7 per cent and 82 per cent respectively against 2016, reported vnexpress.net.
The brokerage revenue reached VND602 billion, up 73 per cent, while securities investment had a year-on-year increase of 87.5 per cent. Income from other activities increased 15 times. Thanks to the sudden surge in profit, the basic earnings for each share in 2017 was VND4,289, an increase of 79 per cent compared to 2016.
Last year was also successful for the stock market in Viet Nam as indicators were at the highest level since the crisis in 2007. The VN-Index increased 48 per cent from the beginning of 2017 to more than 1,000 points, while HNX-Index increased more than 46 per cent.
According to the State Securities Commission, profit of securities companies in 2017 more than doubled the 2016 level to reach some VND7 trillion. Of these, there were 63 profitable and 21 loss-making securities companies.
