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GELEX Group eyes over VND1.9 trillion in profit in 2024

The Saigon Times

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HCMC – GELEX Group JSC, which trades its GEX shares on the Hochiminh Stock Exchange, has set an ambitious target of achieving VND1,921 billion in pre-tax profit this year, up by 37.5% year-on-year.

Documents prepared for its shareholders’ general meeting showed GELEX aims for consolidated net revenue of VND32,303 billion this year, up by 7.7% against the 2023 target.

GELEX’s consolidated net revenue last year totaled VND29,998 billion, equivalent to 80% of its full-year target and 93.5% of the 2022 performance.

The company’s 2023 pre-tax profit amounted to VND1,397 billion, beating the target by 9.8%.

Closing the trading session today, March 7, GEX rose by 1.1% day-on-day to VND23,050 per share, with more than 21.9 million shares changing hands.

The Hochiminh Stock Exchange saw 253 stocks rising and 219 stocks falling, pushing the VN-Index up by 5.73 points, or 0.45%, day-on-day, to 1,268.46 points.

The total trading volume exceeded 1.01 billion shares valued at VND25,084 billion, a slight decline in value but a mild rise in volume over the previous session. Block deals contributed over 69.1 million shares worth VND1,550 billion.

MSN stole the spotlight on the southern bourse as it skyrocketed by 5.1% to VND80,800 per share, with over 8.72 million shares traded. It was also the best-performing stock in the VN30 basket and made the largest contribution to the VN-Index.

Several other blue-chip stocks also performed well today, with BCM rising by 4.23% to VND69,000, BVH by 3.7% to VND44,900, and PLX by 3.5% to VND37,500.

VIX, SSI and VND maintained their strong liquidity on the exchange. VIX saw 63.1 million shares traded, VND witnessed 39.3 million shares changing hands, while 34 million SSI shares were traded today.

With 104 winners and 69 losers, the HNX-Index inched up by 1.91 points, or 0.81%, day-on-day, at 237.37 points. There were 143.5 million shares changing hands on the northern bourse, valued at VND2,782 billion.

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