HCMC – Vicem Ha Tien Cement JSC (HOSE: HT1) reported a sharp increase in third-quarter profit, helping the company beat its full-year earnings target after nine months.
The cement producer’s Q3 revenue reached VND1.64 trillion, up by 3.9% against the same period last year. Its Q3 profit after tax rose to VND22.3 billion, reversing a loss of VND10.5 billion in Q3 2023, according to its earnings report.
In the first nine months of 2024, the company recorded consolidated revenue of VND5.04 trillion, down by 4% year-on-year. However, its profit after tax improved significantly to VND43.8 billion, compared with a loss of over VND37 billion in the same period last year.
The company set a target of VND7.03 trillion in total revenue and VND23 billion in net profit for 2024. After three quarters, it has achieved 77% of its revenue goal but surpassed its profit target by 90%.
The firm attributed the profit increase to an 8.5% rise in cement sales volume in July-September and lower financial costs, including a VND21.1 billion reduction in interest expenses due to lower interest rates and reduced debt.
Closing the trading session today, October 21, HT1 inched up by 1.32% to VND11,550 per share, with a matching volume of 642,600 shares.
The VN-Index lost 5.69 points, or 0.44%, to end at 1,279.77 points on Monday, with 99 winners and 287 losers.
Total trading volume on the southern market reached 622.8 million shares worth VND14.35 trillion, down by 9.6% in volume and 6.74% in value over the previous session. Block deals accounted for 42.55 million shares valued at VND852.1 billion.
The VN30-Index, which tracks the 30 largest-cap stocks, fell by nearly five points, with five bluechips rising and 23 others falling. Leading gainers were Vingroup-related stocks. VHM rose by 5.6%, VRE increased by 1.9%, and VIC gained by 1.1%.
In particular VHM surged by 5.6% to VND47,800 per share, the highest in over a year, contributing nearly 2.9 points to the main index. The stock saw 21.52 million shares traded and was the top pick for foreign investors, with net buying of over VND100 billion.
Real estate stocks managed to rise despite a broad market decline, while bank stocks pulled down the market. EIB bucked the trend, hitting the ceiling price of VND20,800 per share, with the highest trading volume on the southern bourse at 34.7 million shares.
The HNX-Index slid 1.78 points, or 0.78%, to close at 227.43 points, with 56 advancers and 95 decliners. The northern bourse saw 42.1 million shares worth VND733.7 billion changing hands.
