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Thursday, June 13, 2024

Nam Long’s net profit rockets in Q1

The Saigon Times

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HCMC – Despite unfavorable conditions in the real estate market, Nam Long Investment Corporation, whose NLG shares are traded on the Hochiminh exchange, reported a dramatic surge in profit in the first quarter.

Though its net revenue plunged by 60% over the same period last year to VND235 billion, the firm posted VND7 billion in net profit, an 11-fold year-on-year increase.

Meanwhile, the firm earned VND46 billion from financial activities in January-March, nearly doubling that in the year-earlier period.

According to the company’s balance sheet, its assets as of January 31 totaled over VND27 trillion, but its cash dropped 10% to around VND4.3 trillion.

Closing the trading session today, April 21, NLG edged up 1.33% over the previous session to VND30,500 per share and reported a matching volume of more than 3.6 million shares.

Decliners outnumbered advancers by 247 to 128, causing the VN-Index of the Hochiminh Stock Exchange to lose 6.34 points, or 0.6% from the previous reading, to 1,042.91 points.

More than 553 million shares valued at over VND9.6 trillion changed hands, surging 48% in volume and 46% in value day-on-day, including 40.6 million shares worth VND836.6 billion traded in block deals.

With five stocks rising and 23 others dipping, the VN30-Index slid 7.43 points to 1,046.18.

Real estate stocks NVL and PDR were among the main drags of the VN30-Index, dipping 5.6% and 4%, respectively. Other stocks such as MWG, MSN, VNM and VRE shed over 1%.

NVL took the lead by liquidity on the southern bourse today with a matching volume of 31.6 million shares, followed by SSI with 30.6 million shares.

Meanwhile, the HNX-Index of the Hanoi exchange added 0.32 points, or 0.15% from the session earlier, at 206.92 points, with 66 winners and 92 losers.

There were more than 93 million shares worth VND1.2 trillion traded on the northern bourse.

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