Large-cap firms report at least VND3 trillion in 2019 pre-tax profit

Monday, Feb 03, 2020 06:55

A Vinhomes' residential estate project in Ha Noi. The company earned a total of VND29.7 trillion worth of pre-tax profit in 2019, the highest among large-cap firms. — Photo

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).

Total pre-tax profit of the 29 companies is roughly VND255 trillion, up 21 per cent year on year.

Industrial park developer Becamex IDC (UPCoM: BCM) was the lowest earner. The company recorded VND3 trillion pre-tax profit in 2019.

Eleven of the total 29 companies posted VND10 trillion or more pre-tax profit. In 2018, seven companies earned more than VND10 trillion in full-year pre-tax profit.

Property firm Vinhomes (HoSE: VHM) and Vietcombank (HoSE: VCB) were the two biggest earners.

The two companies earned VND29.7 trillion and VND23.1 trillion worth of pre-tax profits for 2019.

Other companies with more than VND10 trillion worth of pre-tax profit were property and tech firm Vingroup (HoSE: VIC), PetroVietnam Gas (HoSE: GAS), Techcombank (HoSE: TCB), dairy producer (HoSE: VNM), Bank for Investment and Development of Vietnam (BIDV, HoSE: BID), VPBank (HoSE: VPB), airport operator ACV (UPCoM: ACV) and Military Bank (HoSE: MBB).

Among the companies, Vingroup posted a pre-tax profit of VND15.64 trillion, up 12.9 per cent year on year, and dairy firm Vinamilk saw the figure increase 6.2 per cent to VND12.8 trillion.

Of all 29 companies, 26 saw their profits grow from a year earlier. Three firms whose profits grew slower were aviation firm Vietjet (HoSE: VJC), steel company Hoa Phat (HoSE: HPG) and property developer Novaland (HoSE: NVL).

Vietjet recorded VND5 trillion worth of full-year pre-tax profit in 2019, down 14 per cent year on year. The two other firms saw their pre-tax profits decline by 10 per cent and 9 per cent on-year to VND9.1 trillion and VND4.3 trillion, respectively.

On the other side, 22 listed companies had two-digit profit growth rates, led by two lenders Vietinbank (HoSE: CTG) and TPBank (HoSE: TPB).

The profit growth rates at the two lenders were 80 per cent and 71 per cent on-year. Vietinbank and TPBank reported VND11.8 trillion and VND3.9 trillion worth of pre-tax profit for 2019. – VNS

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