Large-cap firms report at least US$130 million in pre-tax profit
Most large-cap firms have released full-year earnings reports for 2019 with 29 companies reporting a pre-tax profit of more than VND3 trillion (roughly US$130 million).
A Vinhomes' residential estate project in Hanoi. The company earned a total of 29.7 trillion VND worth of pre-tax profit in 2019, the highest among large-cap firms. (Photo: cafef.vn)
Total pre-tax profit of the 29companies is roughly 255 trillion VND (11 billion USD), up 21 percent year onyear.
Industrial park developer Becamex IDC (UPCoM: BCM) was the lowest earner. The company recorded 3 trillionVND pre-tax profit in 2019.
Eleven of the total 29companies posted 10 trillion VND or more pre-tax profit. In 2018, sevencompanies earned more than 10 trillion VND in full-year pre-tax profit.
Property firm Vinhomes (HoSE:VHM) and Vietcombank (HoSE: VCB) were the two biggest earners.
The two companies earned 29.7trillion VND and 23.1 trillion VND worth of pre-tax profits for 2019.
Other companies with more than 10trillion VND worth of pre-tax profit were property and tech firm Vingroup(HoSE: VIC), PetroVietnam Gas (HoSE: GAS), Techcombank (HoSE: TCB), dairyproducer (HoSE: VNM), Bank for Investment and Development of Vietnam (BIDV,HoSE: BID), VPBank (HoSE: VPB), airport operator ACV (UPCoM: ACV) and MilitaryBank (HoSE: MBB).
Among the companies, Vingroupposted a pre-tax profit of 15.64 trillion VND, up 12.9 percent year on year,and dairy firm Vinamilk saw the figure increase 6.2 percent to 12.8 trillionVND.
Of all 29 companies, 26 sawtheir profits grow from a year earlier. Three firms whose profits grew slowerwere aviation firm Vietjet (HoSE: VJC), steel company Hoa Phat (HoSE: HPG) andproperty developer Novaland (HoSE: NVL).
Vietjet recorded 5 trillion VNDworth of full-year pre-tax profit in 2019, down 14 percent year on year. Thetwo other firms saw their pre-tax profits decline by 10 percent and 9 percenton-year to 9.1 trillion VND and 4.3 trillion VND, respectively.
On the other side, 22 listedcompanies had two-digit profit growth rates, led by two lenders Vietinbank(HoSE: CTG) and TPBank (HoSE: TPB).
The profit growth rates at thetwo lenders were 80 percent and 71 percent on-year. Vietinbank and TPBankreported 11.8 trillion VND and 3.9 trillion VND worth of pre-tax profit for2019./. VNA
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