Newly released Q1 2024 financial statements as of April 18:
VIX Securities (ticker: VIX) recorded pre-tax profit of VND 202 billion in the first quarter, a 1,596% increase compared to the mere VND 12 billion profit in the same period in 2023. Total operating revenue in Q1/2024 increased by 33% to VND 361 billion, largely consisting of VND 204 billion from FVTPL financial asset gains, in addition to over VND 115 billion in interest from loans and receivables.
Vietnam Joint Stock Commercial Bank for Industry and Trade (CTS) also recorded high growth in Q1 with pre-tax profit reaching VND 124 billion, an 822% increase year-over-year.
A series of other securities companies such as KIS Securities, Yuanta, Thanh Cong, FPTS, BVSC, … also reported skyrocketing profits. SSI Securities reported a 53% increase in pre-tax profit in Q1.
The two securities companies reporting decreased profits were APG Securities and KS Securities. LPBank Securities reported a pre-tax loss of around VND 600 million.
With a 34% revenue decline, Long Hau Corporation (LHG) reported a 32% decrease in pre-tax profit.
Sonadezi Chau Duc Corporation (SZC) reported a Q1/2024 profit that was 5.6 times higher than the same period last year, reaching nearly VND 43 billion.
Bamboo Capital Group Corporation (BCG) reported a 41% increase in net revenue in Q1, reaching VND 985 billion, and a 231% increase in pre-tax profit to VND 117 billion. The company stated that the profit increase was mainly due to revenue growth from the addition of solar power projects. Additionally, interest expenses in Q1/2024 decreased significantly compared to the same period last year due to successful debt restructuring in 2023.
The two tire businesses, Casumina (CSM) and DRC (DRC), recorded pre-tax profit increases of 330% and 100%, respectively, in Q1.
