Listed companies announce satisfactory business result for 2007 (25/12)
06/08/2010 - 27 Lượt xem
Most of listed companies prove to have good business result in 2007, especially the ones operating in the fields of banking and finance, which are considered the backbone of the national economy. Securities companies, including Bao Viet (BVS), SSI, Hai Phong (HPC), all estimate the profit far exceeding the targeted level. BVS’s profit is expected to increase by 450% over 2006, while SSI by nearly 400%.
ACB and Sacombank, two leading banks in Vietnam, expect to gain the profit 2-3 times higher than the previous year’s level.
Food processing, seafood processing companies and real estate firms also expect impressive business result. By the end of November, Vinamilk had earned the pre-tax profit of VND923bil ($57.68mil), fulfilling 102.8% of the yearly plan, Refrigerator Engineering Enterprise (REE) gained VND344bil ($21.5mil), fulfilling 101.4% of the yearly plan.
In 2007, Vietnam’s stock market saw another 38 listed companies (21 in HCM City and 17 in Hanoi, raising the total listed share items to 247 by now. The HCM City Stock Exchange and Hanoi Securities Trading Centre have reported that by December 21, the total capitalization value (the total number of listed shares multiply by market share prices) of the two markets had reached VND490tril ($30.62bil), or nearly equal to 40% of GDP.
The sharp increase of the market capitalization value in 2006 was explained by the increased share prices, while the increase of the market capitalization value in 2007 is because of more shares issued by companies when the companies tried to increase their chartered capital).
Vu Bang, Chairman of SSC said that the market capitalization value has been increasing steadily. He said that as more companies list on the bourse and more companies plan to increase chartered capital, the target of having the market capitalization value equal to 50% of GDP by 2010 is within reach, if the share prices remain stable. It is very likely that the target will be reached by the end of 2008 instead of the previously planned 2010.
Source: NLD
