'One-trillion-dong profit club' led by Vinhomes JSC

Hanoi (VNS/VNA) - Twenty-five companies have entered the “one-trillion-dong profit club” for January-June, despite the economy being ravaged by the COVID-19 pandemic.

Leading the chart is residential real estate firm Vinhomes JSC – a member of conglomerate Vingroup JSC.

Vinhomes in the first six months recorded 11.45 trillion VND (490.2 million USD) of post-tax profit, up slightly from last year’s figure, though post-tax profit in the second quarter dropped 55 percent year-on-year to 3.8 trillion VND.

The real estate company attributed the growth of post-tax profit in January-June to successful sales of real estate projects, especially in the first quarter when coronavirus hardly had any impact on the Vietnamese economy.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) ranked second with a six-month post-tax profit of nearly 8.8 trillion VND.

The figure was down 3 percent year-on-year.

Five companies which had post-tax profits of between 4 trillion VND and 6 trillion VND are PetroVietnam Gas (PV Gas), steel producer Hoa Phat, the Vietnam Prosperity Joint Stock Commercial Bank (VP Bank), the Vietnam Technological and Commercial Joint Stock Bank (Techcombank), the Vietnam Dairy Products JSC (Vinamilk), and the Joint Stock Commercial Bank for Industry and Trade (Vietinbank).

The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and Asia Commercial Joint Stock Bank (ACB) recorded post-tax profits in the first six months of 3.06 trillion VND and 3.47 trillion VND, respectively.

The HCM City Development Joint Stock Bank (HD Bank) announced its post-tax profit in the first half of the year was 2 trillion VND.

Other companies such as PetroVietnam Power Corporation (PV Power), real estate firm Novaland, Saigon-Hanoi Joint Stock Commercial Bank (SHB), brewer Sabeco and Vingroup JSC reported post-tax profits ranged from 1 trillion VND to 1.93 trillion VND.

Banks continued performing well in the first half of the year despite the impact of the pandemic as half of the 21 companies in the “one-trillion-dong profit club” are in the banking sector.

The securities sector had one representative, Techcombank Securities Co (TCBS), recording a 1 trillion VND post-tax profit in the first six months./.