Securities firms lead profit growth
Listed securities companies took the lead in profit growth in the first
nine months of 2014 because of the market rally, according to the
financial information website vietstock.vn.
Listed securities companies took the lead in profit growth in the first
nine months of 2014 because of the market rally, according to the
financial information website vietstock.vn.
Notably, VietDragon Securities (VDS) achieved a profit of more than 50 billion VND (2.3 million USD) in the period. In September alone, the company earned 24 billion VND (1.1 million USD). The company said the revival of the market, along with its effort to restructure its investment activities, helped its business to prosper.
VDS expected its profit in the fourth quarter to exceed the sum of the first nine months as the company would divest in other companies. If the plan succeeds, VDS will earn around 101 billion VND in profits this year, a whopping 843-percent year-on-year increase.
Saigon-Hanoi Securities (SHS) reported that it opened nearly 600 new accounts for investors in the third quarter. Its revenue from brokerage operations reached 27.3 billion VND (1.2 million USD), increasing 5.3 times over that of the same period last year.
Nguyen Chi Thanh, SHS Deputy General Director, told vietstock.vn: "We focus on developing services for customers rather than raising fees."
Another company enjoying growth as a result of the market rebound is Asia Pacific Securities (APS). Although it estimates its profit in the third quarter to be only 4 billion VND (188,600 USD), that is four times the profit it achieved in the corresponding quarter last year.
Saigon Securities Inc. (SSI), the top company in market share on the Ho Chi Minh Stock Exchange, estimated its profit to be 241 billion VND (11.3 million USD) in the third quarter, rising by 103 percent, and 820 billion VND (38.6 million USD) in the first nine months, climbing by 97 percent.
It said this year's profit could hit 1 trillion VND (47.1 million USD) while the target was just 630 billion VND (29.7 million USD).
Le Thi Bich Hang of FPT Securities said companies announcing profit growth in the first nine months would be the apple of the market's eye. Along with securities shares, mineral shares have also increased strongly for the past two months.-VNA
Notably, VietDragon Securities (VDS) achieved a profit of more than 50 billion VND (2.3 million USD) in the period. In September alone, the company earned 24 billion VND (1.1 million USD). The company said the revival of the market, along with its effort to restructure its investment activities, helped its business to prosper.
VDS expected its profit in the fourth quarter to exceed the sum of the first nine months as the company would divest in other companies. If the plan succeeds, VDS will earn around 101 billion VND in profits this year, a whopping 843-percent year-on-year increase.
Saigon-Hanoi Securities (SHS) reported that it opened nearly 600 new accounts for investors in the third quarter. Its revenue from brokerage operations reached 27.3 billion VND (1.2 million USD), increasing 5.3 times over that of the same period last year.
Nguyen Chi Thanh, SHS Deputy General Director, told vietstock.vn: "We focus on developing services for customers rather than raising fees."
Another company enjoying growth as a result of the market rebound is Asia Pacific Securities (APS). Although it estimates its profit in the third quarter to be only 4 billion VND (188,600 USD), that is four times the profit it achieved in the corresponding quarter last year.
Saigon Securities Inc. (SSI), the top company in market share on the Ho Chi Minh Stock Exchange, estimated its profit to be 241 billion VND (11.3 million USD) in the third quarter, rising by 103 percent, and 820 billion VND (38.6 million USD) in the first nine months, climbing by 97 percent.
It said this year's profit could hit 1 trillion VND (47.1 million USD) while the target was just 630 billion VND (29.7 million USD).
Le Thi Bich Hang of FPT Securities said companies announcing profit growth in the first nine months would be the apple of the market's eye. Along with securities shares, mineral shares have also increased strongly for the past two months.-VNA
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