Listed firms post fourth-quarter losses

Over half of listed companies on the nation's stock exchanges have released their financial statements for last year, and over a dozen firms on the HCM City Stock Exchange reported losses in the fourth quarter, according to financial information portal Vietstock.

Among these, Pha Lai Thermal Power Company (PPC) incurred the heaviest losses of almost VND553 billion (US$28.3 million), which they attributed mainly to foreign exchange rate fluctuations.

Steelmaker Hoa Sen Group (HSG) also reported a loss of VND61.7 billion ($3.2 million), while Ba Ria Thermal Power Company (BTP) saw losses of VND50.6 billion ($2.6 million) for the quarter.

For the full year, only eight companies have reported losses. Of these, construction company Full Power (FPC) incurred a loss for the year of nearly VND287 billion ($14.7 million), while Ben Tre Forestry and Aquaproduct Import Export Co (FBT) and Sai Gon Beverages (TRI) each saw losses of over VND82 billion ($4.2 million).

On the Ha Noi Stock Exchange, eight firms announced losses for 2010. Viet Hai Shipping and Real Properties Co (VSP) suffered the biggest loss of VND359 billion ($18.4 million), while Kim Long Securities (KLS) lost nearly VND173 billion ($8.9 million).

Meanwhile, six companies on the two stock exchanges posted profits of over VND1 trillion ($51.3 million), with dairy giant Vinamilk (VNM) leading the pack with a profit of over VND2.37 trillion ($121.5 million) in 2010.

Industrial conglomerate Hoa Phat Group (HPG), property developer Hoang Anh Gia Lai (HAG), Phu My Fertilisers (DPM), software giant FPT and Vietcombank (VCB) all posted a net profit of over VND1 trillion.

Profits and losses in 2010

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