Less Than 50 per cent Listed Firms Report Profits in Q1
Less than 50 per cent of listed companies in the Vietnam’s equity market were profit gainers in the first quarter of this year as a result of the bad impacts of the economic slowdown.
Only 42 out of 90 listed firms on the country’s two bourse reported on-year profit growth between January and March, according to the financial information provider StockPlus Co.
Only 33 firms, or 31 per cent, posted the first-quarter profit higher than the fourth quarter of 2008.
Almost large companies such as Vinamilk, FPT, PV Drilling, Phu My Fertilizer and PetroVietnam Finance earned high in the period, contributing to the market’s jump of nearly 15 per cent in March.
Both foreign investors and local funds have urged local authorities to improve transparency and governance on local bourses as part of measures to draw more foreign capital inflows.
Vietnam now has 177 firms listed on the Ho Chi Minh City Stock Exchange and 181 ones listed on the Hanoi Stock Exchange. (Saigon Economic Times)
Vietnamese
