VCSC estimates pre-tax profit of US$17.7 million in first quarter
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.
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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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