HoSE sees 300 firms exceed profit targets

The Ho Chi Minh Stock Exchange (HoSE) has witnessed some 300 businesses reportedly exceeding their 2018 business plans in a spectacular way.

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Phuoc Hoa Rubber Joint Stock Company (PHR) witnessed profit exceeding 107 percent of its 2018 plan. (Photo: baodauthau.vn)

Thanks to the merger with Duc Giang Lao Cai Chemicals JSC, Duc Giang Chemicals and Detergent Powder Joint Stock Company (DGC) last year reported Q4 profit of 259 billion VND (11 million USD), 2.7 times higher than the same period of the previous year.

As for the whole year of 2018, pre-tax profit reached 915.5 billion USD, 5.5 times higher than 2017. In the next five years, DGC aims to achieve annual revenue of 1 billion USD and annual profit growth of 20 percent.

Song Da Joint Stock Company 9.09 (S99), which experienced losses in 2017 and targeted only 5.4 billion VND in profit in 2018, earned profits of nearly 46 billion VND last year thanks to cost savings. This was also the highest profit that S99 achieved since its inception.

Cuu Long Fish Joint Stock Company (ACL) reported after-tax profit of 236 billion VND in 2018, 11 times higher than 2017, the highest profit since its listing on the HoSE so far. EPS (earnings per share) was estimated at 10,358 VND. In 2019, ACL aims to achieve 1.3 trillion VND in revenue and VNĐ35 billion in pre-tax profit. With the achieved results, ACL’s revenue surpassed 30 percent of the initial plan and its profit far exceeded the initial target by 7.5 times.

Other seafood enterprises announced positive business results such as Nam Viet Corporation (ANV) with post-tax profit of over 600 billion VND in 2018, 4.2 times higher than 2017 and surpassing 140 percent of the profit target. In 2019, Navico expects a revenue of 6 trillion VND, post-tax profit of 700 billion VND and cash dividend payment of 20 percent. 

Vinh Hoan Corporation (VHC) recorded 2018 post-tax profit of 1.4 trillion VND, 2.4 times higher than the previous year. 

IDJ Vietnam Investment JSC (IDJ) also surprised the market as it reported profit of 49 billion VND in the fourth quarter last year, 35 times higher than the same period of 2017. Profit for the whole year was more than 50 billion VND. This is also the highest profit figure that IDJ has achieved since 2010.

As for the enterprises in the coal industry, Ha Tu Coal JSC (THT) exceeded its profit target by 428 percent, Deo Nai Coal JSC (TDN) exceeded by 262 percent, Nui Beo Coal (NBC) exceeded by 215 percent, Vang Danh Coal JSC (TVD) exceeded by 109 percent and Ha Lam Coal (HLC) exceeded by 104 percent. The reason for the large profits of firms in the coal industry was good quality coal mining and rising consumption.

Many other big names also witnessed good business results such as Vietcombank (VCB), PetroVietnam Gas JSC (GAS), steel maker Hoa Phat Group (HPG), Techcombank (TCB), Bank for Investment and Development (BID), Military Bank (MBB), budget carrier Vietjet Air (Vietjet)  (VJC), Asia Commercial Bank (ACB), consumer staple Masan Group (MSN) and brewery Sabeco (SAB).

These businesses all recorded trillion dong in profit in 2018. At the beginning of the year, Vietcombank planned to earn 13 trillion VND in profit, but at the end the bank successfully attained 18.3 trillion VND, exceed the plan by 41 percent. ACB set a double growth target at the beginning of the year, but the real profit of the bank then increased by 2.4 times to 6.38 trillion VND.

GAS collected profit of 12.1 trillion VND last year, 25 percent higher than 2017 and surpassed 5.6 trillion VND compared to the yearly plan. GAS’s 2018 profit plan was set out based on oil price of 50 USD per barrel, however, rising oil prices last year helped the company achieve a high profit result.

VJC forecast profit down by 700 billion VND compared to 2017 but the strong growth of core business activities of air transport and auxiliary revenue helped VJC surpass its profit target.

Pha Lai Thermal Power Joint Stock Company (PPC) recorded 1.5 trillion VND in pre-tax profit and 1.2 trillion VND in post-tax profit, an increase of 44 percent and 35 percent compared to the previous year. The results nearly doubled the targets set in 2018.

Thu Duc Trading & Import Export JSC (TMC) saw 2018 profit surpassing the target by 61 percent to reach VNĐ28 billion, mainly thanks to the transfer Timexco apartment complex project in Linh Trung ward, Thu Duc district in HCM City.

Phuoc Hoa Rubber Joint Stock Company (PHR) also witnessed profit exceeding 107 percent of the 2018 plan.

The 2019 annual general meeting (AGM) season is approaching and the whole market is focused on the firms’ business results.

VNA

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