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Tuesday, December 5, 2023

VHC’s net profit falls by half in Jan-Sept

The Saigon Times

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HCMC – Vinh Hoan Corporation, which trades its VHC shares on the Hochiminh Stock Exchange, saw its net profit plummeting by 52% in January-September.

The company’s gross revenue dropped by 29% to VND7.6 trillion. This decline was attributed to multiple factors, including foreign exchange rate volatility and losses from stock trading.

Despite efforts to manage costs, the company’s net profit has still fallen short of its target for the year. In the third quarter alone, its revenue fell by 17% at VND2.7 trillion and its net profit slid by 58% year-on-year at VND191 billion.

At the end of the third quarter, the company’s asset portfolio had increased by 7% to exceed VND12.3 trillion, but cash and cash equivalents had decreased by 35% to VND360 billion.

The company’s investment portfolio in securities also reported a loss of over VND45 billion. Short-term bank loans increased by 15% to more than VND2.5 trillion, while long-term debt dropped by 30% to VND123 billion.

Closing the trading session today, November 16, VHC shares inched up 0.41% over the previous session to VND73,300 per share.

The Hochiminh Stock Exchange saw 218 stocks gaining and 280 others dipping, with the VN-Index improving a slight 0.27%, or 3.03 points, to close at 1,125.53 points.

Despite the uptick in the VN-Index, overall trading activity edged down. The total trading volume reached 687.4 million units valued at nearly VND14.8 trillion, down by 27% and 25% over the session earlier, respectively.

Securities stock VIX remained the most actively traded stock, with a trading volume of 35.4 million shares, followed by housing developer NVL with 29.9 million shares and DIG with 28.4 million shares.

The HNX-Index of the Hanoi Stock Exchange rose by 1.69 points, or 0.74%, to settle at 229.56 points, with 99 winners and 66 losers.

There were more than 101.4 million shares worth VND2 trillion changing hands on the northern bourse.

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