HCM City Securities Co targets 30% rise in profits

The HCM City Securities Company (HSC) targets a turnover of more than VND436 billion (US$20.8 million) this year, 20 per cent higher than 2010.

The company expects the turnover will yield a net profit of VND237 billion, up 30 per cent over last year. It believes the market has hit its bottom and is likely to bounce back.

In the first quarter, according to the company’s CEO Johan Nyvene, HSC earned net profits of VND41 billion ($2 million). While transaction turnover in the securities market decreased by up to 50 per cent, that of the company fell just 10 per cent, he said.

The company ranked third among leading securities companies in the first quarter in terms of brokerage transactions.

Tags: HCM City Securities Company

Posted by VBN on Apr 13 2011. Filed under Stock. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry