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Monday, June 17, 2024

Biwase posts VND270 billion profit in Jan-May

The Saigon Times

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HCMC – Binh Duong Water – Environment Corporation JSC (Biwase) gained revenue of VND1.5 trillion and profit of VND270 billion in the first five months of the year, realizing 36% of its annual revenue target and 39% of its net profit goal, respectively.

In May, Biwase generated VND323 billion in revenue, up by 8% over the same period last year. However, the net profit for May fell by 35% year-on-year to VND44 billion.

Biwase has set ambitious targets for 2024, aiming for VND4,100 billion in revenue and VND700 billion in net profit. The results for the first five months do not include VND206 billion in revenue from the waste treatment sector.

In June, Biwase plans to raise its water supply capacity to meet the consumption demand.

The company will also accelerate investments in its ongoing projects for 2024, focusing on expanding the Long An and Chon Thanh plants to 60,000 and 30,000 cubic meters per day, respectively.  Additionally, Biwase intends to establish three new subsidiaries.

Closing the trading session today, June 10, its BWE shares edged up by 1.48% to VND44,650 per share.

With 243 winners and 193 losers, the benchmark VN-Index of the Hochiminh Stock Exchange added 3.09 points, or 0.24%, at 1,290.67 on Monday, driven by gains in several sectors.

Trading volume and value on the southern exchange increased by 23%  and 21.15% over the previous session, with 858.65 million shares valued at VND21.6 trillion changing hands. Block deals totaled nearly 79.7 million shares worth over VND2.1 trillion.

The VN30-index gained 3.07 points, or 0.23% versus the session earlier, to 1,311.10 points, with 11 advancers and 15 decliners in the VN30 basket.

Among the 30 largest-cap stocks, GVR rose the highest at 3.4%, contributing more than 1.2 points to the main index, while CTG added 0.9 points thanks to a 2.1% gain. These gains helped offset the declines in major banking stocks like VCB, ACB, TCB, and BID, as they collectively took away 1.18 points from the benchmark index.

Technology firm FPT continued its upward trend, rising 1.41% to a new high of VND144,000 per share. Trading volume remained high with nearly 3.8 million shares exchanged.

Stocks in the transportation and warehousing sector performed well today. VSC, a company in this sector, rose 4.4% with over 22.6 million shares changing hands, the second most actively traded stock on the southern market. PVT jumped 5.6%, trading over 8.62 million units. Several other stocks in the sector, including VOS, VTO, TCO, VNL, QNP, and SGP, also reached their ceiling prices.

Lender SHB took the lead by liquidity with a trading volume of around 28.9 million shares. It inched down 0.42% to close at VND11,750.

The HNX-Index of the Hanoi Stock Exchange gained 0.59 points, or 0.24%, to close at 245.58 points, with 109 stocks increasing and 68 others dipping. Trading volume on the northern exchange reached 77.54 million shares valued at VND1.615 trillion.

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