BSC Forecasts Impressive Earnings Growth for DDV and MWG in Q2 2024
BIDV Securities (BSC) has released its estimates for the financial results of several companies for the second quarter and the first half of 2024. The most impressive growth forecasts were for two companies: DDV, a fertilizer group, and MWG, a leading retailer.
According to BSC, DDV’s net profit for Q2 2024 is expected to surge by 6,462% year-on-year to VND56 billion, while its six-month profit may increase by 8,156% to VND82 billion.
For MWG, the profit forecast for the second quarter stands at VND1,100 billion, representing a remarkable 6,200% growth compared to the previous year. Moreover, for the first half of 2024, MWG’s net profit is anticipated to reach VND2,002 billion, an astonishing 51-fold increase from the same period in 2023. If this scenario unfolds as predicted, MWG will have accomplished over 83% of its annual profit target by the halfway point.
Another retailer, PNJ, is also expected to post healthy profit growth, with a 28% increase in Q2 profit to VND431 billion. For the six-month period, PNJ’s profit is forecast to rise by 8% to VND1,169 billion.
Regarding FPT, BSC maintains its projection of a familiar 19% profit growth year-on-year. The expected net profit stands at VND2,639 billion, bringing the six-month profit to VND5,157 billion.
In the technology and telecommunications sector, BSC anticipates a 5% increase in Viettel Construction’s (CTR) net profit for the quarter, amounting to VND162 billion.
Source: BSC
Despite the recent surge in their stock prices, port businesses are not expected to see significant profit improvements, according to BSC. HAH’s net profit for Q2 is projected to decline by 18% to VND80 billion, while GMD may experience a more substantial drop of 59% in profit compared to the previous year, falling to VND680 billion.
Most banks under BSC’s coverage are expected to report positive profit growth for the second quarter and the first half of 2024. VCB is forecast to achieve a net profit of VND10,000 billion in Q2 2024, marking an 8% increase. BID and MBB are both estimated to earn profits of VND7,500 billion in the second quarter, representing growth rates of 8% and 21%, respectively, compared to the same period in 2023. TCB is projected to witness a 21% surge in net profit, reaching VND7,400 billion.
In the steel industry, HPG’s profit is expected to double, with a projected increase of 119% year-on-year to VND3,200 billion. Even more impressively, HSG’s net profit is anticipated to soar by over 1,500% compared to the previous year, reaching VND200 billion. For the first half of 2024, BSC projects HPG’s and HSG’s net profits to stand at VND6,071 billion and VND628 billion, respectively.
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