Vietnamese Companies Poised for Profit Surge in Q3
Vietnamese businesses are poised for a strong quarter, with profits expected to surge. Mobile World (MWG) leads the pack, potentially doubling its profit year-on-year, driven by tech demand and grocery chain performance. Other companies, like Vinaconex (VCG) and Masan Group (MSN), also forecast significant increases.
Vinaconex is set to report a staggering 1,563% year-on-year increase in after-tax profit, thanks to a divestment from VCR. Meanwhile, Masan Group's profit is expected to rise by 31%, boosted by robust consumer retail operations and high tungsten prices. Nam Long (NLG) is on track for a remarkable turnaround, with Q3 profit projected at VND345 billion, compared to a loss of VND40 billion last year.
Gemadept (GMD) continues its impressive run, with an estimated profit increase of 29% year-on-year, thanks to a significant rise in port throughput. Hoa Phat (HPG) is also expected to achieve a 49% year-on-year profit increase, driven by recovering demand and higher steel prices. Overall, the projected earnings growth in Q3 exceeds the 14% growth recorded in the first half, with extraordinary financial income from project transfers and divestments significantly boosting earnings.
A research by SSI Securities reveals that 42 listed Vietnamese companies are likely to see their earnings rise by 26.9% year-on-year in Q3, with a projected increase of 2.1% compared to Q2. These positive trends indicate a thriving business environment in Vietnam, with companies across various sectors reporting strong profits.
