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‘One-trillion-đồng profit club’ led by Vinhomes JSC

Twenty-five companies have entered the “one-trillion-đồng profit club” for January-June, despite the economy being ravaged by the COVID-19 pandemic.

Leading the chart is residential real estate firm Vinhomes JSC – a member of conglomerate Vingroup JSC.

Vinhomes in the first six months recorded VNĐ11.45 trillion (US$490.2 million) of post-tax profit, up slightly from last year’s figure, though post-tax profit in the second quarter dropped 55 per cent year-on-year to VNĐ3.8 trillion.

The real estate company attributed the growth of post-tax profit in January-June to successful sales of real estate projects, especially in the first quarter when coronavirus hardly had any impact on the Vietnamese economy.

The Joint Stock Commercial Bank for Foreign Trade of Việt Nam (Vietcombank) ranked second with a six-month post-tax profit of nearly VNĐ8.8 trillion.

The figure was down 3 per cent year-on-year.

Five companies which had post-tax profits of between VNĐ4 trillion and VNĐ6 trillion are PetroViệt Nam Gas (PV Gas), steel producer Hòa Phát, the Việt Nam Prosperity Joint Stock Commercial Bank (VP Bank), the Việt Nam Technological and Commercial Joint Stock Bank (Techcombank), the Việt Nam Dairy Products JSC (Vinamilk), and the Joint Stock Commercial Bank for Industry and Trade (Vietinbank).

The Joint Stock Commercial Bank for Investment and Development of Việt Nam (BIDV) and Asia Commercial Joint Stock Bank (ACB) recorded post-tax profits in the first six months of VNĐ3.06 trillion and VNĐ3.47 trillion, respectively.

The HCM City Development Joint Stock Bank (HD Bank) announced its post-tax profit in the first half of the year was VNĐ2 trillion.

Other companies such as PetroViệt Nam Power Corporation (PV Power), real estate firm Novaland, Sài Gòn-Hà Nội Joint Stock Commercial Bank (SHB), brewer Sabeco and Vingroup JSC reported post-tax profits ranged from VNĐ1 trillion to VNĐ1.93 trillion.

Banks continued performing well in the first half of the year despite the impact of the pandemic as half of the 21 companies in the “one-trillion-đồng profit club” are in the banking sector.

The securities sector had one representative, Techcombank Securities Co (TCBS), recording a VNĐ1 trillion post-tax profit in the first six months. — VNS