HBSC suffers loss of 8b dong in 2011

Hong Bang Securities Joint Stock Co (HBSC) has lately announced to suffer loss of 7.8 billion dong in 2011, much higher than the loss of 6.5 billion dong in the previous year.

In details, the brokerage firm reported gaining net revenue of 2.1 billion dong last year, down 41 percent against 2010, of which other revenue accounted for 1.9 billion dong and brokerage revenue of 262 million dong.

The company’s cost for business activities and management work accounted for 4 billion dong and 6 billion dong respectively, resulting in accumulative loss of 7.9 billion dong.

Thanks to other profit of 125 million dong, HBSC’s loss was reduced to 7.8 billion dong.

In the latest annual general meeting held on March 10, 2012, the company’s shareholders approved for issuing additional shares to hike chartered capital by 35 billion dong.

However, the details of capital-raising plan and 2012 business plan haven’t been mentioned in the resolution released after the meeting.

 

Category: Stocks