Phuoc Hoa Rubber Joint Stock Company (PHR) witnessed profit exceeding 107 percent of its 2018 plan. (Photo baodauthau.vn) HCM City (VNS/VNA) - The Ho Chi Minh Stock Exchange (HoSE)has witnessed some 300 businesses reportedly exceeding their 2018 businessplans in a spectacular way.
Thanks to the merger with Duc Giang Lao Cai Chemicals JSC, Duc GiangChemicals and Detergent Powder Joint Stock Company (DGC) last year reported Q4profit of 259 billion VND (11 million USD), 2.7 times higher than the sameperiod of the previous year.
As for the whole year of 2018, pre-tax profit reached 915.5 billion USD,5.5 times higher than 2017. In the next five years, DGC aims to achieve annualrevenue of 1 billion USD and annual profit growth of 20 percent.
Song Da Joint Stock Company 9.09 (S99), which experienced losses in 2017and targeted only 5.4 billion VND in profit in 2018, earned profits of nearly 46billion VND last year thanks to cost savings. This was also the highest profitthat S99 achieved since its inception.
Cuu Long Fish Joint Stock Company (ACL) reported after-tax profit of 236billion VND in 2018, 11 times higher than 2017, the highest profit since itslisting on the HoSE so far. EPS (earnings per share) was estimated at 10,358VND. In 2019, ACL aims to achieve 1.3 trillion VND in revenue and VNĐ35 billionin pre-tax profit. With the achieved results, ACL’s revenue surpassed 30percent of the initial plan and its profit far exceeded the initial target by7.5 times.
Other seafood enterprises announced positive business results such as NamViet Corporation (ANV) with post-tax profit of over 600 billion VND in 2018,4.2 times higher than 2017 and surpassing 140 percent of the profit target. In2019, Navico expects a revenue of 6 trillion VND, post-tax profit of 700billion VND and cash dividend payment of 20 percent.
Vinh Hoan Corporation (VHC) recorded 2018 post-tax profit of 1.4 trillionVND, 2.4 times higher than the previous year.
IDJ Vietnam Investment JSC (IDJ) also surprised the market as it reportedprofit of 49 billion VND in the fourth quarter last year, 35 times higher thanthe same period of 2017. Profit for the whole year was more than 50 billion VND.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) exceededits profit target by 428 percent, Deo Nai Coal JSC (TDN) exceeded by 262percent, Nui Beo Coal (NBC) exceeded by 215 percent, Vang Danh Coal JSC (TVD)exceeded by 109 percent and Ha Lam Coal (HLC) exceeded by 104 percent. Thereason for the large profits of firms in the coal industry was good qualitycoal mining and rising consumption.
Many other big names also witnessed good business results such asVietcombank (VCB), PetroVietnam Gas JSC (GAS), steel maker Hoa Phat Group(HPG), Techcombank (TCB), Bank for Investment and Development (BID), MilitaryBank (MBB), budget carrier Vietjet Air (Vietjet) (VJC), Asia CommercialBank (ACB), consumer staple Masan Group (MSN) and brewery Sabeco (SAB).
These businesses all recorded trillion dong in profit in 2018. At thebeginning of the year, Vietcombank planned to earn 13 trillion VND in profit,but at the end the bank successfully attained 18.3 trillion VND, exceed theplan by 41 percent. ACB set a double growth target at the beginning of theyear, but the real profit of the bank then increased by 2.4 times to 6.38trillion VND.
GAS collected profit of 12.1 trillion VND last year, 25 percent higherthan 2017 and surpassed 5.6 trillion VND compared to the yearly plan. GAS’s2018 profit plan was set out based on oil price of 50 USD per barrel, however,rising oil prices last year helped the company achieve a high profit result.
VJC forecast profit down by 700 billion VND compared to 2017 but thestrong growth of core business activities of air transport and auxiliaryrevenue helped VJC surpass its profit target.
Pha Lai Thermal Power Joint Stock Company (PPC) recorded 1.5 trillion VNDin pre-tax profit and 1.2 trillion VND in post-tax profit, an increase of 44percent and 35 percent compared to the previous year. The results nearlydoubled the targets set in 2018.
Thu Duc Trading & Import Export JSC (TMC) saw 2018 profit surpassingthe target by 61 percent to reach VNĐ28 billion, mainly thanks to the transferTimexco apartment complex project in Linh Trung ward, Thu Duc district in HCMCity.
Phuoc Hoa Rubber Joint Stock Company (PHR) also witnessed profit exceeding107 percent of the 2018 plan.
The 2019 annual general meeting (AGM) season is approaching and the wholemarket is focused on the firms’ business results.-VNS/VNA
VNA
