Ho Chi Minh City Securities posts higher-than-forecast profit

Ho Chi Minh City Securities Corp. said half-year profit exceeded its target for the full-year as the share market rallied.

Net income reached VND123.77 billion (US$7 million) in the first six months ended June 30, compared with a loss of VND86 billion ($5 million) in the same period last year, according to a statement posted on its website.

The Ho Chi Minh City-based company in May forecast full-year profit of VND123 billion, compared with net income of VND23.5 billion ($1.3 million) in 2008.

Revenue at the brokerage surged to VND146 billion ($8.6 million) in the first half, from VND108 billion ($6.3 million) a year earlier, it said.

thanhnien, bloomberg

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