Illustrative image (Source: VNA) Hanoi (VNA) – More than 78 percent of businesses listed on the Hanoi Stock Exchange (HNX), or 268 firms, reported profit in the second quarter of 2020, with combined value of 11.38 trillion VND (491 million USD), down 1.14 percent year on year.
According to reports of listed businesses, in the first half of this year, total after-tax profit of companies listed on the northern bourse reached 10.67 trillion VND, representing a fall of 2.8 percent year on year. Seven out of 11 sectors suffered decrease in profit over the same period in 2019.
Meanwhile, five out of 11 sectors reported year-on-year increase in profit, with trade-service-accommodation-restaurant and finance sectors recording highest rises with 56.8 percent and 11.7 percent, respectively.
However, only 17 out of 48 businesses in the trade-service-accommodation-restaurant enjoyed profit in the first half of 2020.
At the same time, the sharpest fall in after-tax profit was seen in the real estate sector at 79.4 percent to 103.7 billion VND in the first half of 2020 from 634.3 billion VND in the same period of 2019. It was followed by agro-forestry-fisheries sector with a decrease of 46.9 percent.
Downturn was also seen in mining-oil and gas sector at 12.6 percent in the first half of this year, mostly because of adverse impacts of the COVID-19 pandemic.
At the same time, 74 businesses posted losses, with combined value of 711.9 billion VND.
Six out of 11 sectors saw year-on-year increases in losses in the first six months of this year, led by real estate sector which saw total losses shoot up 341 percent to 121.3 billion VND in the first half of 2020. The mining-oil and gas sector followed with a 225 percent increase in the value of losses, and transport-warehouse at 241 percent.
The major reason behind the situation was the COVID-19 pandemic, which forced companies to suspend their production and business./.
