Sai Gon Securities Inc, *** of the country's leading stock brokerages, has reported higher first half profits despite lower revenues. It results announced on Tuesday show income was down 13 per cent year-on-year to VND761.6 billion (US$34.87 million). Profit after tax was VND554 billion ($25.3 million), 15 per cent higher than a year earlier.
Revenues plunged by 19 per cent in the second quarter to VND396.5 billion ($18.1 million) as proprietary trading and brokerage fell 36 per cent and 8 per cent respectively.
SSI remained the top securities company at both the HCM City and Hanoi exchanges with market shares of 13.52 per cent and 8.54 per cent.
It has won a slew of awards this year including for "Fund Management Company of the Year" from The Asset; "Best Broker" and "Best ECM House" from FinanceAsia; "Best Institutional Broker" from Alpha Southeast Asia; "Top 50 Best Listed Company" from Forbes Vietnam; and "Top 50 Most Effective Businesses in Viet Nam" from Nhip Cau Dau Tu magazine.