HoSE sees 300 firms exceed profit targets
HoSE sees 300 firms exceed profit targets
The Ho Chi Minh Stock Exchange (HoSE) has witnessed some 300 businesses reportedly exceeding their 2018 business plans in a spectacular way.
Thanks to the merger with Duc Giang Lao Cai Chemicals JSC, Duc Giang Chemicals and Detergent Powder Joint Stock Company (DGC) last year reported Q4 profit of VND259 billion (US$11 million), 2.7 times higher than the same period of the previous year.
As for the whole year of 2018, pre-tax profit reached VND915.5 billion, 5.5 times higher than 2017. In the next five years, DGC aims to achieve annual revenue of $1 billion and annual profit growth of 20 per cent.
Song Da Joint Stock Company 9.09 (S99), which experienced losses in 2017 and targeted only VND5.4 billion in profit in 2018, earned profits of nearly VND46 billion last year thanks to cost savings. This was also the highest profit that S99 achieved since its inception.
Cuu Long Fish Joint Stock Company (ACL) reported after-tax profit of VND236 billion in 2018, 11 times higher than 2017, the highest profit since its listing on the HoSE so far. EPS (earnings per share) was estimated at VND10,358. In 2019, ACL aims to achieve VND1.3 trillion in revenue and VND35 billion in pre-tax profit. With the achieved results, ACL’s revenue surpassed 30 per cent of the initial plan and its profit far exceeded the initial target by 7.5 times.
Other seafood enterprises announced positive business results such as Nam Viet Corporation (ANV) with post-tax profit of over VND600 billion in 2018, 4.2 times higher than 2017 and surpassing 140 per cent of the profit target. In 2019, Navico expects a revenue of VND6 trillion, post-tax profit of VND700 billion and cash dividend payment of 20 per cent.
Vinh Hoan Corporation (VHC) recorded 2018 post-tax profit of VND1.4 trillion, 2.4 times higher than the previous year.
IDJ Vietnam Investment JSC (IDJ) also surprised the market as it reported profit of VND49 billion in the fourth quarter last year, 35 times higher than the same period of 2017. Profit for the whole year was more than VND50 billion. This is also the highest profit figure that IDJ has achieved since 2010.
As for the enterprises in the coal industry, Ha Tu Coal JSC (THT) exceeded its profit target by 428 per cent, Deo Nai Coal JSC (TDN) exceeded by 262 per cent, Nui Beo Coal (NBC) exceeded by 215 per cent, Vang Danh Coal JSC (TVD) exceeded by 109 per cent and Ha Lam Coal (HLC) exceeded by 104 per cent. The reason for the large profits of firms in the coal industry was good quality coal mining and rising consumption.
Big names
Many other big names also witnessed good business results such as Vietcombank (VCB), PetroVietnam Gas JSC (GAS), steel maker Hoa Phat Group (HPG), Techcombank (TCB), Bank for Investment and Development (BID), Military Bank (MBB), budget carrier Vietjet Air (Vietjet) (VJC), Asia Commercial Bank (ACB), consumer staple Masan Group (MSN) and brewery Sabeco (SAB).
These businesses all recorded trillion dong in profit in 2018. At the beginning of the year, Vietcombank planned to earn VND13 trillion in profit, but at the end the bank successfully attained VND18.3 trillion, exceed the plan by 41 per cent. ACB set a double growth target at the beginning of the year, but the real profit of the bank then increased by 2.4 times to VND6.38 trillion.
GAS collected profit of VND12.1 trillion last year, 25 per cent higher than 2017 and surpassed VND5.6 trillion compared to the yearly plan. GAS’s 2018 profit plan was set out based on oil price of $50 per barrel, however, rising oil prices last year helped the company achieve a high profit result.
VJC forecast profit down by VND700 billion compared to 2017 but the strong growth of core business activities of air transport and auxiliary revenue helped VJC surpass its profit target.
Pha Lai Thermal Power Joint Stock Company (PPC) recorded VND1.5 trillion in pre-tax profit and VND1.2 trillion in post-tax profit, an increase of 44 per cent and 35 per cent compared to the previous year. The results nearly doubled the targets set in 2018.
Thu Duc Trading & Import Export JSC (TMC) saw 2018 profit surpassing the target by 61 per cent to reach VND28 billion, mainly thanks to the transfer Timexco apartment complex project in Linh Trung ward, Thu Duc district in HCM City.
Phuoc Hoa Rubber Joint Stock Company (PHR) also witnessed profit exceeding 107 per cent of the 2018 plan.
The 2019 annual general meeting (AGM) season is approaching and the whole market is focused on the firms’ business results.
