The Port of Hai Phong JSC recorded a growth of 41.7 percent in profit after tax in Q1. (Photo: haiphongport.com.vn) Inthe quarterly financial report, Transimex Joint Stock Company (TMS) said thatits net revenue jumped 104.9 percent year-on-year to nearly 1.1 trillion VND.
Ascost of goods sold increased during the period, Transimex’s gross profit rose55 percent against same period last year to 112.56 billion VND. Afterdiminishing expenses, its profit after tax reached 101.2 billion VND, up 75.7 percent.
Transimexis a logistics service provider with businesses in international freightforwarding, warehousing, domestic transportation and distribution.
TMSstock also witnessed impressive performance. On May 14, TMS shares, listed onthe Ho Chi Minh Stock Exchange (HoSE), traded at 49,700 VND, up nearly 37.3 percentsince the beginning of the year.
Theleading enterprise in the seaport industry, Gemadept Corporation (GMD), alsoposted good results in the first quarter with net revenue of nearly 687.5 billionVND, up 14.4 percent over last year. Of which, port operation activitiesaccounted for 85 percent of total revenue, with the rest fromlogistics and office leasing.
Higherrevenue led to a strong rise of 40.2 percent in profit after tax to over 171.8 billionVND.
GMDshares, also listed on HoSE, finished May 14 at 36,400 VND per share, up nearly10 percent compared to earlier this year.
Inthe first quarter, Dong Nai Port JSC (PDN) posted net profit of over 144billion VND, up 48 percent year-on-year thanks to higher revenue from portoperation activities as the COVID-19 pandemic has been contained. TheVietnamese economy is entering a state of operation under normal conditions.PDN shares, trading on HoSE, also increased slightly by 3.1 percent compared tothe beginning of the year.
Meanwhile,Port of Hai Phong JSC (PHP) said that in the first quarter, the company's totalcargo volume reached 7.126 million tonnes, exceeding 4 percent of itsbusiness plan. This led to an increase of 16.1 percent in revenue to 518.3billion VND. The company’s profit after tax also climbed 41.7 percent to 173.2billion VND.
InMarch, the number of ships passing through Hai Phong Port reached 217, equaling110.2 percent over the same period last year. As of March 31, thenumber reached 585 ships.
Asthe maritime channel in Hai Phong has its standard depth (-7.0m)published, shipping lines have increased the amount of goods imported andexported on each trip, especially for containers.
Onthe Hanoi Stock Exchange, PHP shares rose 6.8 percent from the beginning of2021.
Anotherlogistics company with good results in the first quarter was PetrovietnamTransportation Corporation (PVT).
Duringthe period, the company recorded net revenue of over 1.7 trillion VND, withprofit after tax of nearly 173.8 billion VND, up 8.8 percent and 94.6 percent,respectively. Its gross profit margin jumped from 14.3 percent to 15 percent.
OnHoSE, PVT shares ended May 14 at 16,500 VND, a growth of 13.4 percent comparedto the beginning of 2021.
Boostedby bright prospects of the industry, port stocks were also supported by bullishmomentum.
Accordingto SSI Securities Corporation (SSI), the port and logistics industry hadvery positive developments in 2020, with a growth of 42 percent.
Thissecurities company assessed that the bullish sentiment in the port andlogistics stocks was largely due to the expectation of Vietnam's trade growth,helped by the positive impact of signed free trade agreements, specifically,the European-Vietnam Free Trade Agreement (EVFTA) and the RegionalComprehensive Economic Partnership (RCEP).
Investors'expectations for growth in foreign direct investment (FDI) thanks to thewave of supply chain diversification and production is also supporting theindustry./.
VNA
