Listed firms turn high profits in HCM City

Source: Pano feed

The number of companies making high-profit growth has risen this year on the Hochiminh City Stock Exchange, proving their faith in economic development prospects this year.

Compared to the modest growth targets of just 5-10 percent last year, many listed companies have declared growth targets of 30-150 percent.

Mobile World Investment Corporation (MWG) has set high financial targets. It expects to lift its consolidated revenue this year to 23.59 trillion VND (1.1 billion USD) and make a total net profit of 886 billion VND (41.4 million USD), an increase of 50 percent in revenue and 31 per cent in profit compared with the targets of 2014.

At the annual shareholders’ meeting last week, MWG’s chairman, Nguyen Duc Tai, said the company was gearing up to boost its size and that this would provide employees with better benefits.

MWG is Vietnam’s biggest mobile-phone retailer with 361 stores across the nation. Last year, it reported a total sale of 15.756 trillion VND (739 million USD) and after-tax profits of 673.7 billion VND (31.5 million USD).

Techno-Agricultural Supplying Company (TSC) also expressed high hopes for the year by setting its revenue target to rise 113 per cent and net profit to grow by 67 percent compared with 2014.

Its total sales this year are expected to reach 1.01 trillion VND (47.2 million USD) while net profit will likely go up to 117 billion VND (5.5 million USD).

According to the company’s general director, Phan Minh Sang, the targets are challenging but attainable. TSC plans to boost investments in food and agricultural chemical businesses with a focus on expanding its domestic distribution network while strengthening international cooperation and seeking M&A opportunities.

Apart from electronics and agricultural sectors, property companies also plan high growth in revenues and profits this year because of belief in the sector’s recovery.

TuLiem Urban Development Company (NTL) completed only 50 percent of its 2014’s plan, but it still striving for growth of 250 percent this year.

NTL’s board of directors has approved a plan to hike revenue to 350 billion VND (16.4 million USD) and pre-tax profit to 120 billion VND (5.6 million USD) by year-end. It also projects a dividend rate of 10 percent.

Both FLC Group (FLC) and PhatDat Corporation Real Estate Development Co (PDR) also slate impressive growth of 200 to 600 percent.

FLC plans for the 2015 profit of 1 trillion VND (46.7 million USD), two-and-a-half times that of 2014, while PDR expects to raise its pre-tax profit to 300 billion VND (14 million USD), six times higher than last year.-VNA

Đăng ký: VietNam News