Vietnamplus

As of late August, the Vietnam Oil and Gas Group (Petrovietnam) fulfilled its two important yearly targets of state budget contribution and before-tax profit ahead of schedule.

Total pre-tax profit of the top 25 largest listed banks in the second quarter of 2023 reached about 61.6 trillion VND (2.6 billion USD), down 3.1% over the same period last year, according to a report of VNDirect Securities Company.

PetroVietnam Gas Corporation JSC (PV Gas) earned approximately 6 trillion VND (252.1 million USD) in after-tax profit, up 83% from the set target but down 27.7% from the same period last year.

Five banks in Vietnam recorded a pre-tax profit of more than 10 trillion VND (422 million USD) in the first six months of this year, financial statements of the banks showed.

Pre-tax profit growth of the whole banking industry will decelerate in 2023 and there will be a significant difference in the growth between small- and large-sized banks, experts forecast.

The Commission for the Management of State Capital at Enterprises (CMSC) has asked the Vietnam Railways Corporation (VNR) to achieve revenue and after-tax profit of over 6.5 trillion VND (274.1 million USD) and 3 billion VND this year, respectively, the corporation said.

The Vietnam Oil and Gas Group (Petrovietnam) earned 334 trillion VND (14.2 billion USD) in total revenue in the first five months of 2023, 20% higher than the target for the period, statistics show.

The profits of listed companies are expected to recover in the second half of the year after performing poorly in the first quarter, buoyed by the recent supportive policies from the Government, said analysts at securities firms.

The less-optimistic movements of the stock market have negatively impacted the business results of securities firms in the first quarter of the year.

Vietjet Aviation Joint Stock Company (HoSE: VJC) has recorded positive performance in Q1/2023, resulting from stable domestic flight operation and expansion of international network.

Commercial banks will hold annual general meetings of shareholders (AGM) next quarter to map out production and business plans for 2023.

The State Capital Investment Corporation (SCIC) on January 10 reported that its after-tax profit in 2022 reached over 6.83 trillion VND (291.5 million USD), 91% higher than the yearly plan.

By the end of November, the Vietnam Oil and Gas Group (Petrovietnam) had completed all targets of finance and oil and gas exploitation and production in 2022 ahead of schedule, and set new records in revenue and pre-tax profit, according to its General Director Le Manh Hung.

The Vietjet Aviation JSC recorded a surge in its nine-month revenue, fulfilling 85% of the target set for this year, according to its third-quarter report.

Vietnam Travel and Marketing Transports JSC (Vietravel) is expected to collect 1 trillion VND (40.2 billion USD) in tourism revenue in the four quarter of this year, according to the company's Director General Tran Doan The Duy.

It is critical for State-owned enterprises (SOEs) to strengthen innovations as Vietnam has set the target of having at least 25 SOEs with a market capitalisation of 1 billion USD and more.

Sacombank has been named among the country’s 50 best profitable companies in 2022 for a sixth consecutive year in the annual list compiled by Vietnam Report Joint Stock Company and VietnamNet.

The Petrovietnam Fertiliser and Chemicals Corporation (PVFCCo) enjoyed a revenue of nearly 15 trillion VND (627.7 million USD) and a pre-tax profit of 5.3 trillion VND in the first nine months of this year, two-fold and three-fold increases respectively over those of the same period las year.

The Petrovietnam Gas Joint Stock Corporation (PV GAS) posted a pre-tax profit of 14 trillion VND (nearly 590 million USD) in the first three quarters of 2022, up 61.8% year-on-year.

The SSI Securities Corporation reported an after-tax profit of 416 billion VND (17.7 million USD) on revenue of 1.58 trillion VND (67.3 million USD) in the second quarter of the year, a year-on-year decrease of 26% and 8%, respectively.