MBS targets over six-fold jump in profit
In 2018, MB Securities (MBS) set its profit at VND160 billion (US$7 million), 6.6 times higher than that of in 2017, while its revenue is expected to reach VND881 billion (US$38.5 million), up 4% compared to previous year.
Such high expectation for profit growth in 2018 is thanks to a 12% reduction in expenses, cited MBS's document in prepared for its annual general meeting.
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In 2017, MBS's revenue reached VND846 billion (US$37 million) and profit of VND24 billion (US$1 million). MBS currently manages 95,000 accounts, up 58% compared to 2013. The company's market share has gradually increased from 5.87% in 2013 to 6.41% in 2017.
MBS set profit target of VND160 billion (US$7 million), which is based on the growing trend of state-owned enterprises' initial public offering (IPO) and divestment.
Consequently, new faces in the stock market will undoubtedly attract large investors, especially foreign investors.
Based on the positive outlook of the market in 2018, MBS set target of being in the top 5 securities companies in terms of market shares in Hanoi Stock Exchange and Ho Chi Minh Stock Exchange, in derivatives markets and financial consulting.
Vietnam's stock markets raised VND21.3 trillion (US$938 million) through the IPO auctions of 12 State-owned enterprises (SOEs) in the first quarter of this year.The value in the first quarter was equal to the total IPO value of the previous four years, according to data of StoxPlus Company.
Vietnam considers 2018 a key year in the country's restructuring plan of SOEs, targeting to equitise at least 86 SOEs in the year with 64 of which being large size. The target is tough, but experts believed it is feasible thanks to many favorable conditions including high economic growth and macroeconomic stability.
Foreign investment inflows were also extremely optimistic of the Vietnamese stock market, with net purchasing value equaling VND41 trillion (US$1.8 billion) last year, a six-fold increase compared to the same category in 2016.
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