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VCSC estimates pre-tax profit of US$17.7 million in first quarter
Ngoc Thuy 21:46, 2018/04/16
It is estimated that Viet Capital Securities (VCSC)`s pre-tax profit to reach VND404 billion (US$17.7 million) in the first quarter, equivalent to 40% of the year target.
The said amount is 2.8 times higher the figure in the same period of last year, said VCSC's leaders at the annual general meeting on April 16.
 
​VCSC estimates pre-tax profit of US$17.7 million in first quarter.
​VCSC estimates pre-tax profit of US$17.7 million in first quarter.
On the prospect of consulting services for initial public offering (IPO), VCSC has signed contracts worth VND50 trillion (US$2.2 billion). The securities company is expected to complete 30-40% of the contract work volume this year. 

At the meeting, VCSC leaders informed that in case of VN-Index to reach over 1,000 points, the company's after-tax profit will be over VND1 trillion (US$44 million). Accordingly, if the VN-Index down to 800 points, the company's after-tax profit will be over VND800 billion (US$35.1 million).

VCSC set revenue target of VND1.7 trillion (US$74.4 million) in 2018, an increase of 11.6% over the last year's period, in which securities brokerage is VND491 billion (US$21.5 million), equal to the last year's figure; investments of VND444 billion (US$19.4 million), decreasing 9.2%; investment banking of VND458 billion (US$20 million), increasing 80%; and gains from loans and receivables of VND324 billion (US$14.1 million), up 21.3%.

In 2017, VCSC will pay dividends in cash at rate of 10%, and at 15% in 2018. The company's revenue is recorded at VND1.5 trillion (US$65.7 million), increasing 51% compared to 2016, while its pre-tax profit reached VND802 billion (US$35.1 million), up 46% year on year. 

VCSC also remained in top 3 on the Hanoi Stock Exchange with 8.5% of the market share, down 0.36% in comparison to 2016.

VCSC also successfully advised on big transactions across a range of industries, including Vietjet with capital mobilization worth VND3.8 trillion (US$166.8 million), VPBank with VND12 trillion (US$526.8 million) and PNJ of VND1 trillion (US$43.8 million).

The company was also co-underwriter on the public offering of Viglacera, in which around VND2 trillion (US$87.8 million) was raised from investors; bookrunner on the VND500 billion (US$21.9 million) private placement of PCC1 with funds raised from institutional investors; adviser on initial public offering and listing of SEA on New York Stock Exchange with value around US$1 billion; advisor to two international institutions on deal of Traphaco, and to FPT on its divestment of FPT trading. 
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