FPT Securities up 19% in profit
In the 2nd quarter, FPT Securities earned nearly VND 57 billion in revenue, an increase of 24% compared to the same period last year. It gained nearly VND 36 billion in profit before-tax and VND 28 billion in profit after-tax, jumping 19% when compared to Q2 2013.
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23/07/2014
Margin trading and cash advance on matched sell orders made major contributions to Q2 business result of FPT Securities Joint Stock Company (FPTS for short).
After first 6 months, FPTS reached VND 124 billion in revenue, VND 84,5 billion in profit-before-tax, finishing 65% of the year plan and VND 66.69 billion in profit-after-tax. Earning per share (EPS) was VND 909 per share, up 43% compared to the first six months of 2013.
According to FPTS, Q2 profit after-tax was up 19% compared to the same period because of Margin trading and cash advance on matched sell orders were strongly increased. Increased transaction value resulted in more sales brokerage and consulting activities. On the other hand, the income tax was decreased from 25% to 22%.
Up to June 31st, FPTS’ cash and cash equivalents were remarkably increased from VND 1083.8 billion earlier this year to 1.350 billion while undistributed profit after-tax increased from VND 186 billion to VND 198.5 billion.
Earlier, the State Securities Commission of Vietnam (SSCV) approved transactions that would change ownership stake from 10% of FPTS’ charter capital or more. Specifically, the transferor SBI Securities Co., Ltd. transferred all 14,666,066 shares, accounting for 20% of FPTS’ charter capital, to SBI Financial Services Co., Ltd.
In the second quarter, FPT Securities stayed in top 10 companies with brokerage market on both floors.
