HNX-listed firms see total profit up 4.8% in 2019

Thursday, May 14, 2020 08:40

A statue of a bull stands at the entrance of the Hanoi Stock Exchange. — Photo

Listed companies on the Ha Noi Stock Exchange (HNX) reported their post-tax profits grew 4.8 per cent year-on-year to reach VND21.4 trillion (US$917 million) in 2019.

According to the northern market regulator, as of the end of April this year, 346 out of the total 359 companies on the HNX had released their 2019 audited financial statements.

Among the 346 reporting firms, 311 made profits with a total profit value of VND23.7 trillion, up 10.06 per cent year-on-year.

On a sector basis, five out of 11 sectors report profits in 2019, higher than the number of profitable sectors in 2018. Of the sectors, the oil and gas one posted the highest post-tax profit growth rate of 45.2 per cent, from VND808 billion to VND1.17 trillion.

Ranking second was the financial sector, with only 22 enterprises listed on the HNX, reporting post-tax profit growth rate of 17.3 per cent, reaching VND10.4 billion, accounting for 48.7 per cent of the total profit of the whole market.

The growth is attributed to expanding business operations, diversifying products and services, and attracting more customers. Among this group, banking and insurance businesses witnessed the strongest growth.

In the opposite direction, 36 companies reported losses, up 12.5 per cent over the previous year, with a total loss value in 2019 of negative VND2.24 trillion, up 109 per cent compared to 2018.

Six out of 11 industries reported higher losses compared to 2018, in which the industrial sector saw the highest loss from negative VND427 billion in 2018 to negative VND1.27 trillion in 2019.

Companies who published their audited financial statements five days, or more, later than the required date, have been made ineligible for margin lending and those who delay for over 15 days will be included in the warning list of HNX. — VNS

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