Rong Viet reach VND71 billion in profit in first half of year

Investors at Rong Viet Securities Company. The company reports a pre-tax profit of VNĐ71 billion (US$3.1 million) in the first half of the year. VNS Photo

Rong Viet Securities Company (VDS) has had a pre-tax profit of VND71 billion (US$3.1 million) in the first half of the year, jumping by 163 per cent over the same period last year.

The pre-tax profit in the first quarter was VND30 billion ($1.5 million), surging to VND40.9 ($2 million) billion in the second quarter.

In the first half of 2017, VDS had revenue of over VND166 billion ($7.2 million), up by 78 per cent year-on-year.

Most of the revenue was earned by brokers’ services, the company said.

VDS reported that with the result it had fulfilled 54 per cent of its annual plan in revenue, including 71 per cent of targeted profit.

The HCM City Stock Exchange (HoSE) recently accepted to list 70 million shares of VDS. It is expected that the first trading day will be July 19.

Previously, VDS shares were traded on the Ha Noi Stock Exchange. The company explained that it wanted to list on HoSE to increase the equity of the shares as well as to mobilize more capital from different sources.

VDS shares will end trading on the Ha Noi Stock Exchange next Monday (July 10).

The company targets increasing capital from VND700 billion to VNĐ910 billion this year.— VNS

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