HCMC Infrastructure rises to 8-month high on Q1 profit

Ho Chi Minh City Infrastructure Investment Co., a construction and property company, Thursday rose to its highest level in more than eight months after saying net profit rose 31 percent in the first quarter.

The shares gained 1.1 percent to VND37,400, the highest level since September 9, while the benchmark VN-Index rose 0.5 percent, according to data compiled by Bloomberg.

The company has rallied almost 39 percent this year, outpacing the index’s 31 percent advance. Net income reached VND48.5 billion (US$2.7 million) in the January-March period, compared with VND37 billion a year earlier, according to a statement on its website.

The statement did not give a reason for the profit increase.

thanhnien, bloomberg

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