HANOI: Business results in the third quarter of this year have shown a clear acceleration for many listed companies, with some exceeding their annual plans.
According to Wichart data, by Oct 22, more than 400 listed companies had announced their business results for the third quarter.
Nguyen Chi Hong Ngoc, deputy director of Bao Viet Securities Co’s analysis and investment consulting division, assessed that the business picture in the third quarter of this year was generally more positive than in the second quarter.
Many industries recorded outstanding growth, mainly due to the low profit base of the same period last year. Some notable industries included fertilisers, securities, retail and petroleum retail.
According to Ngoc, the macroeconomic context and business environment in the third quarter improved significantly, becoming a driver for recovery and profit growth across industries.
The improvement of the economy and market demand has helped many enterprises quickly complete, and even surpass, their annual profit plans after only nine months.
In particular, enterprises in the fertiliser industry continued to be a bright spot in the third quarter as they achieved outstanding business results thanks to recovering prices and increasing domestic demand.
For example, the Ca Mau Petroleum Fertiliser Joint Stock Co (DCM) posted a profit of nearly 1.69 trillion dong or about US$64.2mil in the first nine months of the year, up 49% year-on-year and exceeding the yearly plan by 175%.
Similarly, the DAP-Vinachem Joint Stock Co recorded a net profit of 496 billion dong in the first nine months, 4.5 times higher than the same period last year and exceeding its yearly plan by 188%.
The Binh Dien Fertiliser Joint Stock Co achieved a pre-tax profit of 412 billion dong in the first nine months, exceeding its yearly target by 47%.
Companies in the securities sector also recorded positive results in the third quarter as the market maintained strong growth momentum, liquidity improved significantly and investor sentiment became more optimistic.
Positive developments in both the underlying and derivative markets brought significant profits to securities companies, contributing to the sector’s growth.
Notably, the VIX Securities Co attracted attention after reporting a nine-month net profit of over 4.1 trillion dong, 7.4 times higher than the same period last year and far exceeding the annual profit plan of 1.2 trillion dong.
With these breakthrough results, the company plans to adjust its profit target for this year to four trillion dong.
The VietinBank Securities Co was also a bright spot with a third-quarter net profit of 270 billion dong, more than five times higher than the same period last year thanks to its self-trading segment driving performance.
In the first nine months, the company recorded an after-tax profit of 552 billion dong, exceeding its annual goal.
In addition, many other businesses have also taken advantage of favourable market developments to post large profits, far exceeding their targets.
Earlier this year, the Nam Viet Joint Stock Co was doubted when it set a pre-tax profit target of 500 billion dong for this year, more than 10 times higher than the previous year.
However, after nine months, the company achieved 857 billion in pre-tax profit, more than 13 times higher than the same period a year ago and exceeding the yearly target by 50%.
The Dabaco Group Joint Stock Co estimated its net profit in the third quarter at 342 billion dong, bringing profit for nine months to nearly 1.36 trillion dong, over 2.5 times higher than the same period a year ago and exceeding the yearly target by about 35%.
Businesses are expected to continue recording positive profit growth in the last quarter of the year, which often sees the highest revenue in the business cycle. — Viet Nam News/ANN
