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Wednesday, October 5, 2022

DIC Corp scales down operations

The Saigon Times

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HCMC – Development Investment Construction JSC, or DIC Corp, will shut down its Hanoi representative office and DIC – VEC branch, and suspend DIC Him Lam and DIC Vinh Phuc branches.

The construction and real estate firm, which trades its DIG shares on the Hochiminh Stock Exchange, posted VND575.4 billion in revenue in the second quarter of this year, down 6.6% year-on-year, and VND81 billion in after-tax profit, up 52%, the local media reported.

In 2022, DIC Corp targets VND5 trillion in revenue and VND1.9 trillion in before-tax profit. The firm made VND183.2 billion in pre-tax profit in the first half of the year, reaching a mere 9.6% of its full-year target.

DIG closed at the reference price today, September 14, and reported a matching volume of over 8.1 million shares.

The HCMC bourse saw losers outnumbering gainers by 321 to 120. The VN-Index slid 7.63 points, or 0.61%, from the session earlier, at 1,240.77. Over 607 million shares worth VND14.4 trillion changed hands, up 28.3% in volume and 12.7% in value against the previous session.

Farming stock HAG jumped 6.6% and took the lead by liquidity on bourse with over 40 million shares changing hands.

On the Hanoi Stock Exchange, many large-cap stocks underperformed at the close, sending the HNX-Index down 2.17 points, or 0.77%, from the day earlier, to end at 279.42.

Oil and gas firm PVS was still the most actively traded stock, with 12.9 million shares changing hands, and finished the day up 1.5%.

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