HCMC – Duc Long Gia Lai Corporation, which trades its DLG shares on the Hochiminh Stock Exchange, beat its full-year profit goal by 5% in the first nine months of the year, backed by the sale of its subsidiary, MassNoble Investment Company.
In January-September, DLG achieved total revenue of VND815 billion, a 2% increase year-on-year and meeting 58% of annual target. Net profit during this period surged 2.5-fold to nearly VND126 billion.
In the third quarter of 2024, the firm reported net profit of nearly VND53 billion, nearly six times higher than in the same period in 2023.
The sharp increase in profit was attributed to the firm’s financial income during the quarter, which rocketed to nearly VND181 billion, tripling year-on-year. The majority of this increase came from profits associated with the transfer of MassNoble, which generated around VND130 billion.
The company’s total revenue for the quarter was over VND220 billion, a decrease of 24% versus the same period last year. This decline resulted primarily from a 59% plunge in electronic component sales, which amounted to just over VND63 billion.
Retail electricity revenue also fell by 14% to about VND18 billion. However, toll collection services saw an 18% rise, contributing over VND133 billion to revenue.
As the firm’s profit soared, its DLG shares shot up to the ceiling price of VND2,030 per share at the close today, October 29, with a matching volume of over 3.8 million shares.
With 244 winners and 132 losers, the VN-Index added 7.01 points, or 0.56%, over the previous session, ending at 1,261.78 points.
Trading volume and value surged 81% and 73%, respectively, against the session earlier, with over 875 million shares worth VND18.8 trillion traded. Block deals contributed more than 384.1 million shares worth a total of VND7.17 trillion.
Among blue-chip stocks, VIB and HDB led the gains, both increasing by about 2.5%. VIB reached VND18,750 per share, while HDB closed at VND27,300 per share. A significant block deal involving 300 million shares of VIB was valued at nearly VND5.4 trillion, likely linked to the Commonwealth Bank of Australia’s divestment from the bank.
In the small-cap sector, many stocks soared to their upper limits across various sectors. HVN surged by 6.8% to VND22,000 per share, with over 3.87 million shares traded, its highest price in over two months.
Conversely, DXG recorded the highest trading volume on the exchange with nearly 29 million shares changing hands, but the stock declined by 2.97% to VND16,350 per share.
On the Hanoi Stock Exchange, the HNX-Index increased by 0.96 point, or 0.43%, to 225.56 points, with 98 advancers and 47 decliners. Total trading volume on the northern market reached over 37.1 million shares valued at VND565 billion.
