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Majority of listed companies report Q4 gains in Ha Noi
More than 30 companies, listed on the Ha Noi Stock Exchange, have announced their operational results for the fourth quarter of 2014, with most of them reporting positive results.
According to data from the exchange, the number of companies reporting losses fell, compared with the same period in 2013, especially in terms of the number of firms and the extent of the losses being reported.
At least 13 listed companies saw their profits swell, notably Central Hydropower (CHP), PetroVietnam Nghe An Investment and Trading (PXA), Saigon Petrolimex Gas Taxi (PGT) and PetroVietnam Coating (PVB).
CHP earned a net profit of VND215.8 billion (US$10.13 million) in the fourth quarter, making up for the losses reported during the first nine months, adding that its accumulating profit jumped 69 per cent from 2013 to VND213 billion ($10 million). This clearly surpassed an earlier target of VND115 billion ($5.4 million) fixed by the company.
Other companies reporting gains included PXA and PGT, which also turned their loss-making operations profitable to avoid being delisted. While PXA reported a profit of only VND317 million ($14,880), PGT pegged its profit at VND10.2 billion ($478,870).
As for PVB, its profit during the fourth quarter of last year rose to VND15.3 billion ($718,300), pushing the annual profit to VND147.5 billion ($6.9 million), which was 2.5 times more than 2013.
Some 17 other enterprises also announced profitable results, but they pointed out that their profits had declined, from a year ago. Some reported a drop of almost 100 per cent, including Kon Tum Sugar (KTS) and Viet Nam Construction No 7 (VC7).
Meanwhile, three firms reported losses. They are PetroVietnam Gas City Investment and Development (PCG), Song Da Yaly Cement (SDY) and HCM City Textbook Printing (SAP).
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