Following a prolonged holiday, the Vietnamese stock market has yet to regain its former vibrancy, but optimism has begun to emerge in the shares of companies reporting positive business results.
Most recently, Vietnam Airlines (HOSE: HVN) announced a profit of over VND 4.3 trillion, the highest ever, and its stock price has soared to VND 18,500 per share.
 Source: VietstockFinance
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Vietnam Airlines has seen a surge in business amid a shortage of aircraft in the aviation market, with high demand for domestic air travel during the peak Tet holiday driving up airfares. In addition, the return of international routes has also contributed to Vietnam Airlines‘ positive business outlook. In Q1/2024, international flights accounted for 65% of total air transport revenue.
Along with the recovery of the aviation market, Vietnam Airlines recorded other income of VND 3.63 trillion from debt forgiveness under the aircraft repayment agreement of its subsidiary Pacific Airlines and fines collected.
| Share price performance of HVN |
Another company that reported record profits is Vietnam Airports Corporation – JSC (UPCoM: ACV). In Q1/2024, the operator of the Long Thanh airport project recorded a net profit of over VND 2.9 trillion, up 79% year-on-year.
The aviation industry’s recovery, sky-high profit margins, and financial income were the main factors contributing to the positive business outlook for the Vietnamese airport giant.
Immediately after the Long Thanh airport developer announced its record profits, ACV shares jumped by more than 10% in the past two sessions, with its market capitalization exceeding VND 200,000 billion.
| Share price performance of ACV |
In another case, shares of Phu Tai JSC (HOSE: PTB) also surged after its Q1 report was released.
In Q1/2024, the company specializing in wood and stone production reported a net profit of nearly VND 90 billion, up 44% year-on-year. According to the company’s explanation, the positive results were due to the recovery in the consumption of wood and stone. In addition, a decrease in financial expenses and foreign exchange gains also contributed to the positive outlook.
Immediately after the report was released, PTB shares briefly hit the ceiling at VND 69.100 per share, before cooling down to a gain of 6%.
| Share price performance of PTB |
Next, retail giant The Gioi Di Dong (HOSE: MWG) has also seen positive share price performance in recent sessions. In Q1/2024, the retail giant recorded a significant recovery in its business operations, with a net profit of over VND 900 billion, dozens of times higher than the same period last year.
This was due to several business segments performing better than before, the mobile phone segment was less challenging, the electronics segment was supported by strong air conditioner sales, while the department store segment was gradually approaching the breakeven point. In addition, this was also the result of the group’s restructuring process, which involved closing down underperforming stores and cutting staff.
Currently, investors are closely following the developments at the Bach Hoa Xanh chain as the chain gradually approaches the breakeven point and could become a new growth driver for MWG. In Q1, the Bach Hoa Xanh chain posted a loss of only over VND 100 billion, a significant narrowing compared to the loss of over VND 300 billion in the previous quarter. In addition, MWG recently completed the sale of a 5% stake in Bach Hoa Xanh to CDH Investments, an asset management company from China.
On the stock market, MWG shares have gained 14% over the past six sessions. Notably, on May 3, liquidity also hit a new record with over 29 million shares changing hands.
| Share price performance of MWG |
In another case, shares of real estate developer An Gia (HOSE: AGG) also surged on positive business results.
In the first three months of the year, AGG recorded a seven-fold increase in net revenue compared to the same period last year, reaching VND 1,312 billion. Net profit reached VND 214 billion, 18 times higher than the same period and marking the quarter with the highest after-tax profit in the past nine quarters.
On the stock market, AGG shares gained nearly 20% in the past five sessions.
| Share price performance of AGG |
