12 enterprises earn trillion dong of profit
Twelve enterprises have earned trillion dong of profit. Of which, GAS is the biggest one with 4.554 trillion dong of profit after tax.
After season of announcing financial statements, while small enterprises are trying to find the way to recover the loss in the next quarter, some giants in the market still remain strong with positive business results. Total 12 listed companies posted or surpassed the threshold of one trillion dong. Of which, the majority are banks such as Asia Commercial Joint Stock Bank (ACB), Vietnam Joint Stock Commercial Bank For Industry (CTG), Vietnam Export and Import Joint Stock Bank (Eximbank), Joint Stock Commercial Bank For Foreign Trade Of Vietnam (VCB), Military Commercial Joint Stock Bank (MBB). In addition, there were companies with a large scale of capital such as PetroVietnam Fertiliser And Chemical Corporation (DPM), FPT Corporation (FPT), PetroVietnam Gas JSC (GAS), Masan Group Corporation (MSN), PVD, Vingroup (VIC) and Vietnam Dairy Products Joint Stock Company (Vinamilk).
However, in the “trillion dong” list, only PVD has the lowest profit after tax with 464.1 billion dong.
In the first six months, PetroVietnam Gas Corporation ( GAS) had a revenue of over 31.939 trillion dong and was no 1 on the list. Of which, its net revenue of sales and services in Q2/2012 reached 16.237 billion dong, financial revenue was about 316 billion dong.
Joint Stock Commercial Bank for Foreign Trade of Vietnam (coded VCB) hit revenue of 16.513 trillion dong in Jan-Jun period. VCB’s accumulative net profit was 5.632 trillion dong, in which, net profit from foreign exchange business was only 621 billion dong.
The one which had the lowest revenue in the list was Vingroup (coded VIC, HOSE). Its financial statement in Jan-Jun period showed that total revenue from sales and supplying services reached 1.822 trillion dong, but this number also increased very strongly compared with 810.1 billion dong on year. Revenue from financial activities was 668.8 billion dong and the costs accounted for 397 billion dong.
About profit after tax, GAS continued to be on top with the highest level. Cumulatively in six months, its profit after tax was 6.051 trillion dong; pre tax profit was 5.549 trillion dong. After paying corporate income tax, GAS’s profit after tax was 4.554 trillion dong, still no 1 in all 12 enterprises.
VNM also reported its positive business result with gaining 1.491 trillion dong of profit in Q2/2012 added accumulative profit in six months to 2.753 trillion dong. By June 30, VNM’s equity reached 13.776 trillion dong, of which investment capital was about 5.561 trillion dong, shares capital surplus was 1.277 trillion dong and undistributed profit was nearly 5.100 trillion dong,
Appearing in the list of 12 enterprises, PVD was still on the bottom of the list with profit after tax of only 464 billion dong, slightly up year-on-year. In Q2/2012, the profit after tax decreased by 48 percent compared with Q2/2011. Management cost in the first six months cost the most money of PVD with over 222 billion dong.
The rest also recorded their profit after tax of over one trillion dong. They are enterprises which had 5-7 trillion dong of chartered capital onwards. Although they have not announced their financial statements yet, these results were still regarded as a background to increase investors’ belief in them.
Tran Dinh Cuong, President of Ernst & Young Audit Co in Vietnam said: “Enterprises now focus much on the health of the companies; they are active and self-assurance in information accuracy. Investors can rely on their financial statements for future reference and identification.”
Category: Business
