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26-10-2010, 03:27 AM #1Guest
As many as 21 securities companies have reported third-quarter business results, with 12 posting gains in profits and nine losses.
The largest firms in terms of brokerage market share on the HCM City and Ha Noi stock exchanges constituted the majority of gainers. Most of their income came from brokerage fees and other financial services, including leveraging transactions, repurchasing agreements and securities mortgages.
Saigon Securities Inc (SSI) who ranked second in the HCM City market reported third-quarter earnings of VND350 billion (US17.9 million) and net profits of VND144.8 billion ($7.4 million), the highest results among profitable companies.
The company who topped the list of top 10 largest securities firms in both exchanges - Thang Long Securities Company (TLS) - posted a revenue of over VND317 billion (US$16.2 million) and a net profit of VND22.2 billion ($1.1 million) during the period.
However, the company that earned the largest revenue in the last three months was not among the leading brokerage firms - Agribank Securities Company (AGR). AGR earned VND403.8 billion ($20.7 million) in revenue and VND46.8 billion ($2.4 million) in net profit in June-September.
Nine com-panies reported total losses of VND405 billion ($20.8 million) in the third quarter. Of which Kim Long Securities Company (KLS) posted the heaviest loss of VND193 billion ($9.9 million), which was mostly due to losses through financial investments and funding to prop up the value of its shares.
Bao Viet Securities Company also posted a loss of VND83.6 billion ($4.3 million) during the period; as did Hai Phong Securities Company (HPC), VND43 billion ($2.2 million); and Vietinbank Securities Company (CTG), VND27 billion ($1.4 million).
Securities company shares have declined from between 25-40 per cent over last month. Many shares are being traded below their face value, including HPC, Trang An Securities Company (TAS), Viet Star Securities Corporation (SVS) and Orient Securities Company (ORS).View more random threads:
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