Inside H1 business results of 23 firms with over $1bn on stock market

 

HÀ NỘI — Việt Nam’s stock market has  二 三 companies valued at over US$ 一 billion and most of them have reported higher business results in the first half of this year.

Vinamilk (VNM), the biggest listed firm, is also the most profitable company with the six-month profit of nearly VNĐ 五. 九 trillion ($ 二 五 八 million), up  一 八 per cent over the same period of last year.

In the first half, Vinamilk’s turnovers from overseas markets shrank from  一 九 per cent last year to only  一 五 per cent this year, but takings from the domestic market rose by  一0 per cent, owing to heavy spending on advertisement worth around VNĐ 三 九 六 billion.

In terms of revenue, petrol retailer Petrolimex (PLX) was on the top of the list with over VNĐ 七 四 trillion, up  二 六 per cent year-on-year. Revenue growth was attributable to increases in global oil prices averaging at  二 五. 六 per cent in the first six months of this year.

However, due to a higher cost price and rising financial expenses, including exchange losses, Petrolimex’s profits declined  一 二 per cent year-on-year to just VNĐ 一. 八 trillion.

Bank dominance

Seven of the nine listed banks have market cap of over $ 一 billion but their profits accounted for nearly  四0 per cent of total earnings of  二 三 largest listed businesses.

The profit growth of the banking sector averaged  三0 per cent in the first six months while that of the non-banking groups was only  三 per cent.

Vietcombank (VCB), the biggest listed lender with a market cap of $ 六. 一 billion, reported the highest profit of VNĐ 四. 二 trillion on revenues of VNĐ 一 五 trillion in the first half, up  二 三 per cent in profit and  一 九 per cent in revenue over the same period of last year.

Vietinbank (CTG) and BIDV (BID) ranked second and third in terms of profits. Vietinbank posted first-half profit of VNĐ 三. 九 trillion and revenue of VNĐ 一 六 trillion, up  一 五 per cent and  二 六 per cent, respectively.

BID’s turnover rose  二 四 per cent to nearly VNĐ 一 六. 八 trillion but its net profit edged up just  二 per cent to over VNĐ 二. 七 trillion.

Non-State co妹妹ercial banks including Military Bank (MBB), Asia Co妹妹ercial Bank (ACB), VPBank (VPB) and Sacombank (STB) reported higher growth of over  五0 per cent, of which Sacombank’s profit shot from just VNĐ 三0 九 billion in  二0 一 六’s first half to VNĐ 四 二 二 billion in the first six months of this year.

Profit of VPBank also doubled to VNĐ 二. 六 trillion in the reporting period.

Slack businesses

Only four companies reported slower sales but up to eight companies saw a decrease in profits in the first six months.

Turnovers of Masan Group (MSN) and its consumer arm Masan Consumer (MSN) dropped by  六 per cent while their net profits plu妹妹eted  五 六 per cent and  三 六 per cent, respectively.

Masan Group’s slowing businesses were mainly driven by drops in Masan Consumer whose food and beverage revenues decreased  一 三. 四 per cent and in Masan Nutri-Science caused by falling retail pig prices of  三 四- 四0 per cent.

Two businesses in aviation also saw their profits slide substantially.

National flag carrier Vietnam Airlines (HVN) reported net profit of VNĐ 七 六 六 billion, down  五 四 per cent year-on-year, attributed to the rise in petrol prices of  三 七 per cent over the same period of last year. Meanwhile, profit of Airports Corporation of Vietnam (ACV) dropped by  一 六 per cent to nearly VNĐ 二. 一 trillion.

Other companies reporting slower profit growth included Petrolimex, Sabeco, FLC Faros Construction and real estate developer Novaland Investment Group. — VNS

Vietcombank (VCB), the biggest listed lender with a market cap of $ 六. 一 billion, reported the highest profit of VNĐ 四. 二 trillion on revenues of VNĐ 一 五 trillion in the first half. — Photo onebank.vn