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Ho Chi Minh City
Tuesday, June 18, 2024

Business health and macroeconomic factors

By Trinh Duy Viet

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The Q1/2024 financial statements of listed companies indicate a significant improvement compared to the same period of 2023, although profit growth slowed a bit over the fourth quarter of 2023. The worst period is over Regarding the 2024 profit targets of listed firms and their achievements in the first quarter of 2024, it is apparent that these companies have got through the most challenging period. According to profit data from 583 listed companies on the HOSE and HNX stock exchanges (representing 84% of market capitalization at the end of 2023), their profit slumped in the fourth quarter of 2022, recovered in the following two quarters, then declined again in the third quarter of 2023 before gaining more solid growth in the recent two quarters. Based on data from 400 listed companies on the HOSE and HNX (accounting for 74% of market capitalization at the end of 2023) that have announced their business plans for 2024, the average profit growth target is 19.4% compared to the actual performance in 2023, and the first quarter of 2024 has seen an average of 24.3% of the annual plans achieved. Therefore, businesses overcame the most challenging period in 2023. Recovery still shows differentiation Although […]
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