Page 18 - VET357

BANKING & FINANCE

Reflecting performance
Stock prices have moved up and down in response
to businesses releasing their Q1 results.
By KIEU TRANG

here were a number of positive The increase in after-tax profits in
Actual
indicators noted in many of the the retail sector was primarily driven by
profits
T business reports for the first quarter In the opening quarter of 2024, non- MWG’s unexpected profitability, which
of 2024 released to date. According to financial sectors saw a sharper increase in was supported by robust revenue growth
the latest data from stock market infor- after-tax profits than financial sectors, rising despite reduced store counts, particularly
mation and analysis platform FiinTrade, 34.3 per cent compared to 13.1 per cent. in the Dien May Xanh chain. This growth
as of May 5, 1,036 of the 1,641 listed Within the financial sector, the secu- was further buoyed by improved EBIT
companies, representing 97.7 per cent of rities industry experienced a notable profit (earnings before interest and taxes) mar-
total market capitalization across Viet- surge of 126.5 per cent, contrasting with gins resulting from operational cost
nam’s three stock exchanges, had disclosed modest growth in banking, of 9.6 per cent, reductions and income from deposits
their first-quarter financial results. Overall which was attributed to low credit expan- and bond investments.
after-tax profits are on the rise, albeit sion and increased credit risk provisions. Aviation led the non-financial sectors
slowly. Total after-tax profits of those In non-financial sectors, retail exhibited in profit growth, with a remarkable 1962.7
1,036 listed companies increased 21.5 remarkable after-tax profit growth of 227.5 per cent year-on-year increase, largely
per cent year-on-year, significantly lower per cent, alongside basic resources, with due to debt write-offs in Pacific Airlines,
than the 56.6 per cent growth posted in 222.2 per cent, construction materials a subsidiary of Vietnam Airlines. The oil
the fourth quarter of 2023. with 122.1 per cent, and fertilizers. and gas sector also witnessed significant

34 Vietnam Economic Times May 27, 2024 en.vneconomy.vn