Workers at the Vinacafe processing line of Masan Group. Masan Group reported a jump of 76.2 per cent in its nine-month net sales of over VND19.1 trillion (US$852.7 million). - Photo baodatviet.vn |
Viet Nam's largest private equity Masan Group (MSN) reported a jump of 76.2 per cent in its nine-month net sales of over VND19.1 trillion (US$852.7 million). Its net profit (pro forma) also rose 57.5 per cent over the same period of last year, totalling VND1.6 trillion ($71.4 million).
Minerals and value-added processing business was the only sector which saw a decline of 13.9 per cent from the same period of last year, reaching nearly VND1.6 trillion ($71.4 million), partly due to a slump in global commodity prices. Other sectors including food and beverage still witnessed slight growth.
A big listed real estate company Tan Tao Investment and Industry Corp (ITA) posted third-quarter net sales of VND137 billion ($6.1 million) and net profit of VND62 billion ($2.8 million), up 17 per cent and 50 per cent year-on-year, respectively.
Ending September, Tan Tao earned a combined net profit of VND175 billion ($7.8 million), a rise of 80.4 per cent over the same period of last year.
Logistics company Gemadept (GMD) also saw positive results when its third-quarter net sales grew 26 per cent year-on-year, reaching VND934 billion ($41.7 million) and its net profit soared 300 per cent to VND131 billion ($5.8 million).
However, its net income in the first nine months decreased 42.5 per cent year-on-year, totalling VND307 billion ($13.7 million). This decline was attributed to unusual earnings from the transfer of Gemadept Tower in the second quarter of last year.
Weaker performance
VinGroup (VIC), Viet Nam's largest publicly-traded real estate company with market cap of nearly VND82 trillion (US$3.7 billion), has posted net sales of almost VND19.7 trillion ($879.5 million) in the first nine months of this year, down 8.6 per cent year-on-year.
Its pre-tax profit also fell 46.8 per cent during the period to reach over VND1.8 trillion ($80.4 million) during the period.
Bao Viet Holdings (BVH), the biggest state-owned insurance firms, posted discouraging results. Its premium revenue still increased 18.6 per cent year-on-year from July to September to VND4.13 trillion ($184.4 million), thanks to a rise of 26.3 per cent in life insurance, its main business line which accounted for 61.5 per cent of total premiums.
However, its financial revenue declined 13.5 per cent to VND632 billion ($28.2 million) during the period, driving its net profit down 29.2 per cent from the third quarter of 2014 to just VND218 billion ($9.7 million).
Ending September, Bao Viet's net income reached VND921 billion ($41.1 million), down 1 per cent year-on-year.
Multi-sector group Hoang Anh Gia Lai (HAG) saw its third-quarter net profit plunge 60.2 per cent year-on-year to VND378 billion ($16.9 million) while the nine-month profit slipped 23.7 per cent to over VND1.2 trillion ($53.6 million). Such declines were attributed to the loss of financial revenue which dropped from VND925 billion ($41.3 million) in last year's third quarter to VND314 billion ($14 million) during the same period of this year.
Weaker performers included seafood processor Hung Vuong Corporation (HVG) which saw its nine-month net profit fall 81.3 per cent year-on-year to VND64.4 billion ($2.9 million).
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