HCMC – Thanh Cong Textile Garment Investment Trading JSC, whose TCM shares are listed on the Hochiminh Stock Exchange, has reported a 44% year-on-year increase in net profit for the first 10 months of 2024, beating its full-year profit target by over 50%.
Net profit for the January-October period was estimated at more than VND262 billion. October alone contributed nearly VND25 billion, more than double the same month last year.
Revenue for the month jumped by 19% to VND346 billion, bringing its January-October revenue to nearly VND3.4 trillion, a 15% rise year-on-year.
Asia accounted for 62.9% of October’s export revenue, with South Korea contributing 33.7%. The Americas made up 31.7%, while Europe and Oceania accounted for 4.7% and 0.7%, respectively.
The company has achieved over 90% of its 2024 revenue plan and is receiving orders for the first quarter of 2025.
In early November, TCM shareholders approved the revival of the TC Tower project in HCMC. Delayed for over a decade due to legal issues, the project involves 598 mid-to-high-end condo units and is expected to generate VND2.8 trillion in revenue and over VND1.1 trillion in profit.
Closing the trading session today, November 25, TCM edged up by 2.38% to VND47,300 per share, with a matching volume of over 3.5 million shares.
The VN-Index added 6.6 points, or 0.54%, to close at 1,234.7 points on Monday, with 223 winners and 135 losers.
Liquidity remained low, with trading volume marking the second-lowest session in November. Stock trade inched down by 6.85% in volume and 6.3% in value over the previous session, with 497.8 million shares worth over VND11.9 trillion changing hands. Block deals accounted for 88.7 million shares valued at about VND2.7 trillion.
Power stocks performed well today, led by POW, which rose to its daily ceiling of VND12,150. POW’s trading volume surged to 18.6 million shares, the highest on the southern exchange, with foreign investors net buying over one million shares.
Other power stocks saw gains, including TV2 and KHP, which also hit their upper limits. PC1 jumped 2.7%, while NT2 and GEG increased 2.4% and 1.9%, respectively.
Bank, securities, and steel stocks showed limited movement, with modest gains of around 1%. VIX Securities led the group with 13.2 million shares traded, rising 1.1% at the close.
In the real estate sector, VHM advanced by 2.64%, while other large-cap stocks like VIC and DXG improved over 1%. DXG and NVL were among the top five most actively traded stocks, with each exceeding 10 million shares.
On the Hanoi Stock Exchange, the HNX-Index added 0.96 point, or 0.43%, to 222.25 points, with 77 advancers and 73 decliners. Trading volume reached 34.67 million shares valued at VND584.2 billion.
