|
Stock market gloomy, stock companies still profitable
Securities companies have surprised everyone when reporting satisfactory profits for the third quarter of 2011. Prior to that, analysts thought they would incur heavy losses this year, while many of them would be on the verge of bankruptcy.
The profits for the third quarter of 2011 made by securities companies were surprisingly high, which is quite different from the gloomy business result reported in the first six months of the year.
The gloomy stock market can say about the big difficulties securities companies have to face in 2011. In late 2010, the VN Index stayed at over 480 points, while the index is now hovering around the 410 point threshold only. Meanwhile, the market liquidity in 2011 decreased dramatically in comparison with the previous year, while the trading volume was reportedly just equal to 50 percent of that in 2010.
Therefore, it is understandable that the satisfactory profits of securities companies were not the thing analysts and the market expected after the end of the third quarter of the year.
MSBS, the securities company belonging to Maritime Bank, has announced the pretax profit of 5.8 billion dong for the third quarter of 2011. The profit has made the gross pretax profit of MSBS in the first nine months of the year reach 19.6 billion dong.
The finance report of the company shows that despite the gloomy stock market, the brokerage service still could bring a relatively high profit. By the end of September, MSBS had had 1400 investors’ accounts.
A representative of MSBS said that in the time to come, the company would continue applying the measures to attract more investors and improve the efficiency of the brokerage service.
According to Nguyen The Minh, MSBS’ Director, on the occasion of the Military Bank listing its shares on the HCM City Stock Exchange (MBB), MSBS has exempted the securities depository fee and apply the preferential transaction fee of 0.15 percent for two months, while promising to give support in finance services to the investors who are interested in the bank’s shares.
Meanwhile, Bao Viet Securities Company, a subsidiary of Bao Viet finance group, has reported the post tax profit of 13.420 billion dong for the third quarter of 2011 and the revenue of 49,676 billion dong. Brokerage and consultancy services are the two main ways of earning living of the company.
Especially, in 2011, Bao Viet Securities obtained big consultancy contracts, including the M&A deal of merging Hai Au Paper and Yen Son Paper into Hapaco, and the M&A of Vinpearl into Vincom.
Other securities companies have also found profits for the third quarter. The Hai Phong Securities Company (HPC), for example, got 12.5 billion dong in post tax profit, which, in the eyes of experts, is really an optimistic figure, if noting that the company incurred the loss of 43 billion dong at the same period of the last year.
Similarly, Kim Long Securities reportedly earned the profit of 53.7 billion dong in the third quarter after taking a loss of 193 billion dong at the same period of the last year.
The improvement in the business result of securities companies has been explained by the fact that the companies could get benefits from the short waves of the market in August and September 2011, when the stock prices unexpectedly increased slightly. During that time, the VN Index increased by 100 points to 470 points.
The HCM City Securities Company has reported the profit of 68 billion dong, raising the accumulative profit of the company to 177 billion dong so far this year. Besides, ORS Company also reportedly made profit in the third quarter after taking a loss of 8 billion dong in the first half of 2011.
The profits of securities companies prove to be the goods news for investors, because it shows the warming of the market.
vietnamnet, TBKTVN
|
