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DCM reports profit fall in Q4 2023

The Saigon Times

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HCMC – After-tax profit of Petro Vietnam Ca Mau Fertilizer JSC (HOSE: DCM) in the final quarter of last year fell but still made up 45% of the full-year net income, according to the firm’s earnings report for the quarter.

The company posted a year-on-year decline of 20% in revenue and a 37% fall in gross profit in October-December, at VND3.6 trillion and VND866 billion, respectively. The company’s fourth-quarter net profit plunged by 53% to VND493 billion.

Its revenue from financial activities rose by 26% to VND106 billion, while its financial costs dropped by half to nearly VND10 billion.

Its management costs soared, nearly tripling the amount recorded in the fourth quarter of 2022 to VND209 billion.

The company attributed the revenue plunge to lower fertilizer prices despite a rise in sales volume, while the sharp rise in management costs resulted from the establishment of its science and technology fund.

For the entire year, the firm earned a total of VND12.6 trillion in revenue, down 21% versus 2022. Its net profit plummeted 74% year-on-year to VND1.1 trillion.

Closing the trading session today, January 29, DCM edged up 4.05% to VND32,150 per share, with a matching volume of over 7.5 million shares.

With 187 winners and 283 losers, the VN-Index of the Hochiminh Stock Exchange moved sideways with a marginal gain of 0.02 point, closing at 1,175.69 points.

Stock trade improved by 15.9% in volume at 666.5 million shares and 10.8% in value at VND14.3 trillion over the previous session. Block deals totaled 113.7 million shares worth VND2.7 trillion.

Steel, securities, and bank stocks underwent strong correction today. HSG and HPG closed at their intraday lows, down 3% and 1.2% to VND22,850 and VND28,000, respectively.

HSG and HPG were the two most actively traded stocks on the southern market today, with HSG taking the lead by liquidity at 22.5 million shares followed by HPG with 21.6 million shares.

Most securities stocks were losers or stayed at their reference prices, except TVS, ORS, FTS and BSI, which gained below 1% each.

Bank stocks faced the same situation. OCB, MBB, LPB, HDB, STB and CTG all saw modest increases of below 0.5%, while the rest moved sideways or declined.

The Hanoi Stock Exchange saw 86 stocks advancing and 78 others dipping, resulting in a 0.38-point drop in the HNX-Index to 229.05.

There were 52.4 million shares valued at nearly VND900 billion changing hands on the Hanoi exchange.

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