VietNamNet Bridge - There were 22 listed companies, or 3 percent of total listed businesses, which reported profits of VND1 trillion ($45 million)  or higher in 2016. Some new names are expected to join the list this year.

Of the 22 companies with the average post-tax profit of over VND1trillion in 2016, Vinamilk, the nation’s leading dairy producer, was the most brilliant. With net profit of VND9.35 trillion and 21 percent growth rate, Vinamilk has usurped the throne which previously belonged to the GAS Corporation.

GAS's net profit fell by 17 percent in comparison with 2015 to VND7.075 trillion.

There were 22 listed companies, or 3 percent of total listed businesses, which reported profits of VND1 trillion ($45 million)  or higher in 2016. Some new names are expected to join the list.

Hoa Phat (HPG), a steel manufacturer, also had a prosperous year with VND6.606 trillion worth of net profit, which was twice as much as the targeted profit.

The banking sector still showed strength when five members were listed among the biggest profitable enterprises. They included Vietinbank (CTG), Vietcombank (VCB), BIDV (BID), Military Bank (MBB) and Asian Commercial Bank (ACB).

Some new names are on the list of the 22 most profitable enterprises. These include Sabeco (SAB), a brewer, which reported post tax profit of VND4.475 trillion, 22 percent higher than planned. SAB is one of the shares with the highest market price.

Meanwhile, Novaland (NVL), Hoa Sen (HSG), Coteccons (CTD) and Refrigeration Engineering Enterprise (REE) were names which appeared on the list for the first time.

Novaland is now one of the leading brands in the real estate market. After a series of merger & acquisition (M&A) deals, the company’s land fund has enlarged considerably. 

The real estate developer reported impressive growth rate of 274 percent for the first fiscal year after the listing.

Another real estate developer found on the list is Cotecons, which reported revenue of VND20.783 trillion, up by 62 percent, and post-tax profit of VND1.422 trillion, up by 94 percent compared with 2015.

Analysts said they can see new potential candidates which may join the VND1 trillion club this year. These include CII whose post-tax profit in 2016 neared the threshold. The post-tax profit of the holding company in the first quarter of 2017 was VND1.1 trillion.

Vietnam Report, a credit rating firm which surveyed 500 of the largest Vietnamese businesses, has reported that 81 percent of businesses are optimistic about the economy in 2017, believing that their business performance will be even better this year.

US$1=VND22,000

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