HNX-listed firms see post-tax profits up 4.8 percent in 2019

May 14, 2020 | 11:42

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Listed companies on the Hanoi Stock Exchange (HNX) reported their post-tax profits grew 4.8 percent year-on-year to reach 21.4 trillion VND (912.86 million USD) in 2019.

hnx listed firms see post tax profits up 48 percent in 2019

Illustrative image (Photo: VNA)

According to the northern market regulator, as of the end of April this year, 346 out of the total 359 companies on the HNX had released their 2019 audited financial statements.

Among the 346 reporting firms, 311 made profits with a total profit value of 23.7 trillion VND, up 10.06 percent year-on-year.

On a sector basis, five out of 11 sectors report profits in 2019, higher than the number of profitable sectors in 2018. Of the sectors, the oil and gas one posted the highest post-tax profit growth rate of 45.2 percent, from 808 billion VND to 1.17 trillion VND.

Ranking second was the financial sector, with only 22 enterprises listed on the HNX, reporting post-tax profit growth rate of 17.3 percent, reaching 10.4 billion VND, accounting for 48.7 percent of the total profit of the whole market.

The growth is attributed to expanding business operations, diversifying products and services, and attracting more customers. Among this group, banking and insurance businesses witnessed the strongest growth.

In the opposite direction, 36 companies reported losses, up 12.5 percent over the previous year, with a total loss value in 2019 of negative 2.24 trillion VND, up 109 percent compared to 2018.

Six out of 11 industries reported higher losses compared to 2018, in which the industrial sector saw the highest loss from negative 427 billion VND in 2018 to negative 1.27 trillion VND in 2019.

Companies who published their audited financial statements five days, or more, later than the required date, have been made ineligible for margin lending and those who delay for over 15 days will be included in the warning list of HNX.

VNA

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