Viet Capital Securities profits reaches $37.7 million in H1, meeting 69% of the year’s target

Viet Capital Securities has reported net revenues of VND879 billion (US$38.1 million) for the second quarter of this year, an increase of 116 per cent over the same period last year.

It took its revenues for the first half to VND1.66 trillion ($71.9 million), up 110 per cent.

Profit before tax was VND504 billion ($21.8 million) for the second quarter and VND868 billion ($37.7 million) for the first half, up 62 per cent and 117 per cent year-on-year.

VCSC achieved 81 per cent and 69 per cent of its full-year revenue and profit targets in the first half.

Earnings per share rose by 116 per cent to VND2,111.

Revenues and pre-profit from brokerage in the second quarter were at VND212 billion and VND 81 billion, up 101 per cent and 144 per cent.

VCSC was the fifth largest brokerage on the Ho Chi Minh City Stock Exchange during the quarter with a market share of 5 per cent.

Its investment banking segment reported revenues of VND3 billion and a pre-tax loss of VND5 billion.

In the first half its investment banking team advised the parties on the sale of 49 per cent of FE Credit to Sumitomo Mitsui Banking Corporation, the IPO and listing of Dat Xanh Services and the acquisition of 20 per cent in Phuc Long Heritage by Masan Group.

Revenues from the deals have not been accounted for since they were not fully completed during the period.

Profits from proprietary investments in the first half grew by 129 per cent to VND627 billion. In the second quarter it increased its holdings in HDG and pared its stakes mostly in bank stocks such as TCB, VPB, MBB, LPB, and others such as POW, BMI, HPG, PPC, and VHC.

In the first half it issued 900,000 ESOP shares (equivalent to 0.5 per cent of total outstanding shares) and completed a bonus share issuance at a rate of 1:1. 

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BMI 40,750 -200 -0.49%
HDG 52,700 -800 -1.50%
HPG 45,800 -1,400 -2.97%
LPB 23,600 100 +0.43%
MBB 27,750 -600 -2.12%
POW 10,500 150 +1.45%
PPC 22,850 -200 -0.87%
TCB 49,500 -1,600 -3.13%
VHC 39,750 -800 -1.97%
VND 41,700 -1,500 -3.47%
VPB 58,500 -2,300 -3.78%

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