An employee counts Vietnamese banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy.
Listed companies reported an average year-on-year fall in profits of 30.6 percent in the second quarter, compared to a drop of 58.5 percent in the first.
The improved figures were mostly due to non-operating income, which doubled and accounted for 20 percent of the profits of non-banking companies, according to a report by financial data provider FiinGroup.
This income includes sale and leaseback gains for budget airline Vietjet Air, investment liquidation by conglomerate Vingroup, and divestment by real estate firm Novaland, the report, which compiled data from 1,032 non-bank listed companies that have published their financial statements as of August 18, said.
Non-bank companies have actively diversified their income sources or reversed inventory write-downs to offset revenue shortfalls amidst the Covid-19 pandemic, the report said.
They have also cut operating costs to stay afloat, and been helped by the government’s support policy which resulted in lower interest expenses, it added.
This is the first time since 2016 that non-bank companies’ profits have fallen for two consecutive quarters, indicating the damage caused by the pandemic.
Nine out of 18 sectors saw post-tax profits decline, with the sharpest fall of 200 percent recorded by travel and leisure, followed by oil and gas, telecommunications and property. Read more 7 Travel Companies in Vietnam
|Company name ||SWALLOW CO., LTD |
|Phone ||097 205 08 08 |
|Website ||http://swallowtravel.com/ |
|Company name ||FLIGHT TRAVEL JOINT STOCK COMPANY |
|Phone ||028 7307 8777 |
|Website ||http://www.flightraveljsc.com/ |
|Company name ||VIETWORLD COMPANY LIMITED |
|Phone ||024 3762 7999 |
|Website ||vietworldtravel.com |
|Company name ||TAM VUONG TRADING SERVICE AND TOURISM JOINT STOCK COMPANY |
|Phone ||024 3736 6532 |
|Website ||vietair.tv |
|Company name ||BUFFALO TOURS ONE MEMBER VIETNAM COMPANY LIMITED |
|Phone ||024 3828 0702 |
|Website ||https://www.buffalotours.fr/ |
|Company name ||SAIGONTOURIST HOLDING COMPANY |
|Phone ||028 3822 5887 |
|Website ||http://www.saigon-tourist.com/ |
|Company name ||FOCUS TRAVEL AND TRADING COMPANY LIMITED. |
|Phone ||0258 3704 188 |
|Website ||http://www.focusvietnam.com/ |
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