HA NOI (Biz Hub) — FLC Group has been named one of the 50 most effective businesses listed on Viet Nam's stock market.

According to the survey, conducted by Nhip Cau Dau Tu (Investment Bridge) newspaper and Thien Viet Securities Company, the top 50 firms were selected from some 700 listed companies in the stock market based upon their business operation and management abilities.

Dang Nhat Minh, the newspaper's editor-in-chief and head of the organising board, said the award aimed to recognise enterprises that have recorded significant achievements in business, encouraging good management to assure sustainable development.

The firms reported a market capitalisation of more than VND500 billion (US$23.1 million) in the previous financial year, turnover of three previous years of over VND200 billion ($9.2 million) and profits of VND20 billion ($925,000) upward. In addition, the ranking also was based upon three criteria of turnover growth, return on equity (ROE) and return on capital (ROC).

FLC has experienced breakthroughs in the past few years. Last year, its integrated revenue was VND2.4 trillion ($111.1 million), posting a 133 per cent year-on-year rise. Its pre-tax profit was also 331 per cent higher than 2013, reaching VND454 billion ($21 million).

This year, the group targeted a revenue and profit growth rate of triple digits to VND5.5 trillion ($254.6 million) and VND1.15 trillion ($53.2 million), respectively.

Also, the ranking this year saw the presence of several large companies, including Masan, Vingroup, Ree and Vinamilk.— VNS