Large-cap firms report at least VND3 trillion in 2019 pre-tax profit

04-Feb-2020 Intellasia | VNS | 6:02 AM Print This Post

Most large-cap firms have released full-year earnings reports for 2019 with 29 companies reporting a pre-tax profit of more than VND3 trillion (roughly $130 million).

Total pre-tax profit of the 29 companies is roughly VND255 trillion, up 21 per cent year-on-year.

Industrial park developer Becamex IDC (UPCoM: BCM) was the lowest earner. The company recorded VND3 trillion pre-tax profit in 2019.

Eleven of the total 29 companies posted VND10 trillion or more pre-tax profit. In 2018, seven companies earned more than VND10 trillion in full-year pre-tax profit.

Property firm Vinhomes (HoSE: VHM) and Vietcombank (HoSE: VCB) were the two biggest earners.

The two companies earned VND29.7 trillion and VND23.1 trillion worth of pre-tax profits for 2019.

Other companies with more than VND10 trillion worth of pre-tax profit were property and tech firm Vingroup (HoSE: VIC), PetroVietnam Gas (HoSE: GAS), Techcombank (HoSE: TCB), dairy producer (HoSE: VNM), Bank for Investment and Development of Vietnam (BIDV, HoSE: BID), VPBank (HoSE: VPB), airport operator ACV (UPCoM: ACV) and Military Bank (HoSE: MBB).

Among the companies, Vingroup posted a pre-tax profit of VND15.64 trillion, up 12.9 per cent year-on-year, and dairy firm Vinamilk saw the figure increase 6.2 per cent to VND12.8 trillion.

Of all 29 companies, 26 saw their profits grow from a year earlier. Three firms whose profits grew slower were aviation firm Vietjet (HoSE: VJC), steel company Hoa Phat (HoSE: HPG) and property developer Novaland (HoSE: NVL).

Vietjet recorded VND5 trillion worth of full-year pre-tax profit in 2019, down 14 per cent year-on-year. The two other firms saw their pre-tax profits decline by 10 per cent and 9 per cent on-year to VND9.1 trillion and VND4.3 trillion, respectively.

On the other side, 22 listed companies had two-digit profit growth rates, led by two lenders Vietinbank (HoSE: CTG) and TPBank (HoSE: TPB).

The profit growth rates at the two lenders were 80 per cent and 71 per cent on-year. Vietinbank and TPBank reported VND11.8 trillion and VND3.9 trillion worth of pre-tax profit for 2019. trillion-in-2019-pre-tax-profit_312912.html


Category: Stocks, Vietnam

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