Business
HSC set revenue growth target at 52% in 2018
Ho Chi Minh Securities Corporation (HSC) set revenue target in 2018 at VND2.1 trillion (US$92.4 million), up 52% year on year.
Consequently, the company's after-tax profit is estimated at VND819 billion (US$36 million), increasing 48%, said HSC's documents prepared for its annual general meeting in 2018.
Specifically, securities brokerage, gains from loans and receivables and investments are expected to be the main revenue sources, contributing to the total revenue at 43%, 29% and 21%, respectively, while the remaining revenue comes from financial consulting.
Substantially, securities brokerage is forecasted to grow at 51% higher than in 2017. Gains from loans and receivables are expected to raise VND608 billion, up 38% over the last year period.
Revenue from investments in 2018 is expected to contribute 21% to the total revenue, which is equivalent to VND436 billion (US$19.1 million), up 57% over the previous year.
HSC set its after-tax profit at VND819 billion (US$36 million), up 48% year on year, which has taken into account an increase in operational expenses of 54%.
The return on average equity (ROAE) in 2018 of HSC is expected to reach 24.5%, slightly higher than the rate of 21.4% in 2017.
At the upcoming general meeting, HSC will submit plan of advanced dividends payment at rate of 15% in cash and dividends payment in 2018 with 15% in cash.
In 2017, HSC revenue reached the record high of VND1.5 trillion (US$66 million), up 87% compared to that of in 2016 and exceeding 52% of the year plan. Its after-tax profit posted at VND554 billion (US$24.3 million), up 82% year on year and exceeding 53% of the year plan.
HSC's market share in securities brokerage in 2017 reached 11.3%, indifferent to the rate of 11.2% in 2016, but lower than the target of 2017 at 12.3%.
Having returned 52% in 2017, Vietnam is on track to be Asia`s best-performing market for a second year in a row, assessed Bloomberg in its latest article. The Vietnam Stock Index is already up 22%. Since January, foreigners have purchased more than US$440 million of local shares, after scooping up a record US$1 billion last year.
Vietnam exceeded most of the government's expectations in 2017, with full-year growth of 6.8%. The country set the target for GDP growth rate at the minimum of 6.7% in 2018, requested the Prime Minister Nguyen Xuan Phuc at a regular government meeting on April 2.
The economy also posted its strongest first-quarter growth in 10 years, expanding 7.38% annually in January-March, according to the General Statistics Office. Notably, agriculture saw a significant increase of more than 4%, doubling that of the same period last year.
Industry - construction are considered the driving force for economic growth with increasing rate of 11%. Additionally, the average consumer price index is kept under control at 2.82%.
HSC set revenue growth target at 52% in 2018.
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Substantially, securities brokerage is forecasted to grow at 51% higher than in 2017. Gains from loans and receivables are expected to raise VND608 billion, up 38% over the last year period.
Revenue from investments in 2018 is expected to contribute 21% to the total revenue, which is equivalent to VND436 billion (US$19.1 million), up 57% over the previous year.
HSC set its after-tax profit at VND819 billion (US$36 million), up 48% year on year, which has taken into account an increase in operational expenses of 54%.
The return on average equity (ROAE) in 2018 of HSC is expected to reach 24.5%, slightly higher than the rate of 21.4% in 2017.
At the upcoming general meeting, HSC will submit plan of advanced dividends payment at rate of 15% in cash and dividends payment in 2018 with 15% in cash.
In 2017, HSC revenue reached the record high of VND1.5 trillion (US$66 million), up 87% compared to that of in 2016 and exceeding 52% of the year plan. Its after-tax profit posted at VND554 billion (US$24.3 million), up 82% year on year and exceeding 53% of the year plan.
HSC's market share in securities brokerage in 2017 reached 11.3%, indifferent to the rate of 11.2% in 2016, but lower than the target of 2017 at 12.3%.
Having returned 52% in 2017, Vietnam is on track to be Asia`s best-performing market for a second year in a row, assessed Bloomberg in its latest article. The Vietnam Stock Index is already up 22%. Since January, foreigners have purchased more than US$440 million of local shares, after scooping up a record US$1 billion last year.
Vietnam exceeded most of the government's expectations in 2017, with full-year growth of 6.8%. The country set the target for GDP growth rate at the minimum of 6.7% in 2018, requested the Prime Minister Nguyen Xuan Phuc at a regular government meeting on April 2.
The economy also posted its strongest first-quarter growth in 10 years, expanding 7.38% annually in January-March, according to the General Statistics Office. Notably, agriculture saw a significant increase of more than 4%, doubling that of the same period last year.
Industry - construction are considered the driving force for economic growth with increasing rate of 11%. Additionally, the average consumer price index is kept under control at 2.82%.
