Workers at the Vinacafe processing line of Masan Group (Source: baodatviet.vn)
Hanoi (VNA) - Many of the top 30 companies by market capitalisation on the HCM Stock Exchange have reported mixed nine-month earnings, according to their latest financial statements.
Vietnam's largest private equity Masan Group (MSN) reported a jump of 76.2 percent in its nine-month net sales of over 19.1 trillion VND (852.7 million USD). Its net profit (pro forma) also rose 57.5 percent over the same period of last year, totalling 1.6 trillion VND (71.4 million USD).
Minerals and value-added processing business was the only sector which saw a decline of 13.9 percent from the same period of last year, reaching nearly 1.6 trillion VND (71.4 million USD), partly due to a slump in global commodity prices. Other sectors including food and beverage still witnessed slight growth.
A big listed real estate company Tan Tao Investment and Industry Corp (ITA) posted third-quarter net sales of 137 billion VND (6.1 million USD) and net profit of 62 billion VND (2.8 million USD), up 17 percent and 50 percent year-on-year, respectively.
Ending September, Tan Tao earned a combined net profit of 175 billion VND (7.8 million USD), a rise of 80.4 percent over the same period of last year.
Logistics company Gemadept (GMD) also saw positive results when its third-quarter net sales grew 26 percent year-on-year, reaching 934 billion VND (41.7 million USD) and its net profit soared 300 percent to 131 billion VND (5.8 million USD).
However, its net income in the first nine months decreased 42.5 percent year-on-year, totalling 307 billion VND (13.7 million USD). This decline was attributed to unusual earnings from the transfer of Gemadept Tower in the second quarter of last year.
VinGroup (VIC), Vietnam's largest publicly-traded real estate company with market cap of nearly 82 trillion VND (3.7 billion USD), has posted net sales of almost 19.7 trillion VND (879.5 million USD) in the first nine months of this year, down 8.6 percent year-on-year.
Its pre-tax profit also fell 46.8 percent during the period to reach over 1.8 trillion VND (80.4 million USD) during the period.
Bao Viet Holdings (BVH), the biggest state-owned insurance firms, posted discouraging results. Its premium revenue still increased 18.6 percent year-on-year from July to September to 4.13 trillion VND (184.4 million USD), thanks to a rise of 26.3 percent in life insurance, its main business line which accounted for 61.5 percent of total premiums.
However, its financial revenue declined 13.5 percent to 632 billion VND (28.2 million USD) during the period, driving its net profit down 29.2 percent from the third quarter of 2014 to just 218 billion VND (9.7 million USD).
Ending September, Bao Viet's net income reached 921 billion VND (41.1 million USD), down 1 percent year-on-year.
Multi-sector group Hoang Anh Gia Lai (HAG) saw its third-quarter net profit plunge 60.2 percent year-on-year to 378 billion VND (16.9 million USD) while the nine-month profit slipped 23.7 percent to over 1.2 trillion VND (53.6 million USD). Such declines were attributed to the loss of financial revenue which dropped from 925 billion VND (41.3 million USD) in last year's third quarter to 314 billion VND (14 million USD) during the same period of this year.
Weaker performers included seafood processor Hung Vuong Corporation (HVG) which saw its nine-month net profit fall 81.3 percent year-on-year to 64.4 billion VND (2.9 million USD).-VNA
