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86% of businesses on Vietnam stock exchange reported Q1 profit

Staff writer |
Eighty-six percent of firms listed on the Hanoi Stock Exchange (HNX) posted profits during the first quarter of this year.

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The northern bourse said it got the results from the latest financial reports of 372 out of 379 enterprises listed.

According to the reports, 319 companies had profits with a combined after-tax profit value of VND3.06 trillion ($136 million) recorded in Q1 2016, an increase of 3.6 percent over the same period last year.

However, 50 companies suffered losses totalling VND193 billion, a rise of 68 percent from the same period last year.

This means that HNX businesses achieved a net profit of VND2.9 trillion in Q1 2016, up 1 percent year-on-year.

During Q1 2016, 104 enterprises in the industrial sector showed the best business results, generating a combined profit of VND949 billion, or 31 percent of all profits.

Twenty-five financial businesses were the runners-up with a combined profit of VND898 billion, equivalent to 29 percent of all profits.

Next were commercial and accommodation service businesses, whose profits amounted to VND467 billion, or 15 percent of all profits.

Industrial companies also accounted for the largest ratio among the losers, however. Twelve industrial firms suffered a combined loss of VND65 billion, or 34 percent of all losses.

Mineral, oil and gas enterprises were next with a combined loss of VND59 billion, or 31 percent of all losses.

They were followed by construction businesses, which had a combined loss of VND28 billion, equivalent to 15 percent of all losses.

On the Unlisted Public Company Market (UPCoM), 58 out of 76 firms have released financial reports.

The reports revealed that 43 enterprises generated profits with a total after-tax profit value of nearly VND1.3 trillion in Q1 2016, down 7 percent over the same period last year.

Nine enterprises suffered losses amounting to VND173 billion in Q1 2016, up 13 percent year-on-year.

Overall, businesses on the UPCoM had a net profit of nearly VND1.1 trillion in the first quarter of this year, a year-on-year decline of 9 percent.