Illustrative photo (Photo: Vietnam Finance) Hanoi (VNA) - Eighty-six percent of firms listed on the Hanoi Stock Exchange(HNX) posted profits during the first quarter of this year, the northern boursehas announced.
According to the reports, 319 companies posted profits with acombined after-tax profit value of 4.02 trillion VND (176 million USD) recordedin Q1, an increase of 13.3 percent over the same period last year.
However, 51 companies suffered losses totalling 127.3 billion VND,a rise of 4 percent in the numbers of companies but a decline of 32.9 percentin loss value over the same period last year.
This means that HNX businesses achieved a net profit of 3.89trillion VND in the first quarter, up 15.9 percent year-on-year.
During Q1, 22 enterprises in the finance sector showed the bestbusiness results. Although the number of the finance companies accounted foronly 7 percent of total profitable firms, they generated a combined profit of 1.35trillion VND, up 47.2 percent against 2016 and accounting for 34 percent of allprofit value.
Among the 22 mentioned firms, the Asia Commercial Bank (ACB)recorded post-tax profit of 478 billion VND in the first quarter of 2017, aremarkable growth of 54 percent year-on-year. Meanwhile, the Sai Gon-HanoiJoint Stock Commercial Bank (SHB) earned 245 billion VND in Q1, up 0.3 percentagainst the same period of 2016.
Twelve real estate businesses were the runners-up with a combinedprofit of 299.2 billion VND, up 83 percent year-on-year. Next were constructionenterprises whose post-tax profits climbed by 35.8 percent year-on-year.
Of them, Vinh Phuc Infrastructure Development Joint Stock Companyreported post-tax profit of 34.09 billion VND, a surge of 369 percentyear-on-year. During the period, C.E.O Investment Joint Stock Company obtainedpost-tax profits of 35.97 billion VND, up 65 percent year-on-year.
The solid business results were attributed to favourable marketconditions during Q1, with exciting trading activities. In addition, realestate and construction companies also strongly promoted the trading of realestate projects and related services.
Industrial companies accounted for the largest ratio among thelosers, suffering a combined loss of 40.2 billion VND, or 32 percent of alllosses.
Sai Gon Cement Joint Stock Company (SCJ) suffered a loss of 15.6billion VND during Q1, triple the loss value of same period of 2016. ThePetroleum Real Estate Joint Stock Company (PVL) reported a loss of 2.1 billionVND, down 30 percent year-on-year.
Mineral, oil and gas enterprises were next with a loss valueamounting to 21 percent of all losses.
They were followed by accommodation, restaurant and cateringservice businesses, which had a combined loss of 17.7 billion VND.-VNA
VNA
