Viet Capital Securities has reported pre-tax profits of VND874 billion (US$37.4 million) in the first half, a year-on-year increase of 1 per cent.

Its revenues and profits from brokerage were at VND363 billion and VND167 billion, 5 per cent and 9 per cent down from a year earlier.

VCSC was the seventh largest brokerage on the HCM City Stock Exchange with a market share of 4.64 per cent.

In 2021 and H1 2022, VCSC was one of the few securities companies not to raise new capital, and so it continued to achieve high earnings per share growth and ROE despite the market turbulence.

Its investment banking segment achieved revenues of VND333 billion and pre-tax profits of VND283 billion compared to a loss of VND10 billion a year earlier.

In the first half VCSC recognised proceeds from notable deals, including Masan Meat Life’s sale of its animal feed business to De Heus Vietnam, Phu Nhuan Jewelry’s private placement, Phat Dat Corporation’s bond issuance, and Hung Thinh Group’s acquisition of Song Tien Corporation (Angel Island project).

Its investments achieved profits before tax of VND288 billion, a 49 per cent decrease.

They came mostly from its stake sale in Quang Ngai Sugar, Mobile World and Ha Do Group and the covered warrant business.

Margin lending fetched profits of 136 billion, up 10 per cent. — VNS