Large-cap firms report at least 3 trillion VND in pre-tax profit
Most large-cap firms have released full-year earnings reports for 2019 with 29 companies reporting a pre-tax profit of more than 3 trillion VND (roughly 130 million USD).
A Vinhomes' residential estate project in Hanoi. The company earned a total of 29.7 trillion VND worth of pre-tax profit in 2019, the highest among large-cap firms. (Photo: cafef.vn)Hanoi (VNS/VNA) - Most large-cap firms have released full-year earnings reports for 2019 with 29 companies reporting a pre-tax profit of more than 3 trillion VND (roughly 130 million USD).
Total pre-tax profit of the 29 companies is roughly 255 trillion VND (11 billion USD), up 21 percent year on year.
Industrial park developer Becamex IDC (UPCoM: BCM) was the lowest earner. The company recorded 3 trillion VND pre-tax profit in 2019.
Eleven of the total 29 companies posted 10 trillion VND or more pre-tax profit. In 2018, seven companies earned more than 10 trillion VND in full-year pre-tax profit.
Property firm Vinhomes (HoSE: VHM) and Vietcombank (HoSE: VCB) were the two biggest earners.
The two companies earned 29.7 trillion VND and 23.1 trillion VND worth of pre-tax profits for 2019.
Other companies with more than 10 trillion VND 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 15.64 trillion VND, up 12.9 percent year on year, and dairy firm Vinamilk saw the figure increase 6.2 percent to 12.8 trillion VND.
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 5 trillion VND worth of full-year pre-tax profit in 2019, down 14 percent year on year. The two other firms saw their pre-tax profits decline by 10 percent and 9 percent on-year to 9.1 trillion VND and 4.3 trillion VND, 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 percent and 71 percent on-year. Vietinbank and TPBank reported 11.8 trillion VND and 3.9 trillion VND worth of pre-tax profit for 2019./.
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