More than 78% of businesses listed on HNX report profit in Q2

According to reports of listed businesses, in the first half of this year, total after-tax profit of companies listed on the northern bourse reached VND10.67 trillion, representing a fall of 2.8% year on year. Seven out of 11 sectors suffered decrease in profit over the same period in 2019.

Meanwhile, five out of 11 sectors reported year-on-year increase in profit, with trade-service-accommodation-restaurant and finance sector recording highest rises with 56.8% and 11.7%, respectively.

However, only 17 out of 48 businesses in the trade-service-accommodation-restaurant enjoyed profit in the first half of 2020.

At the same time, the sharpest fall in after-tax profit was seen in the real estate sector at 79.4% to VND103.7 billion in the first half of 2020 from VND634.3 billion in the same period of 2019. It was followed by agro-forestry-fisheries with a decrease of 46.9%.

Downturn was also seen in mining-oil and gas sector at 12.6% in the first half of this year, mostly because of adverse impacts of the COVID-19 pandemic.

At the same time, 74 businesses posted losses, with combined value of VND711.9 billion.

Six out of 11 sectors saw year-on-year increases in losses in the first six months of this year, led by real estate sector which saw total losses shoot up 341% to VND121.3 billion in the first half of 2020. The mining-oil and gas sector followed with a 225% increase in the value of losses, and transport-warehouse at 241%.

The major reason behind the situation was the COVID-19 pandemic, which forced companies to suspend their production and business./.

By Hoang Ha