Petrolimex tops Forbes’ Vietnamese companies list

11:02 | 19/09/2017 Companies

Gas station operator Petrolimex is the firm with the highest revenue in the local stock market, according to the business magazine Forbes Vietnam.

Member of the Board of Management of Petrolimex Nguyễn Thanh Sơn (C) receives the campaign medal - Photo: Petrolimex

The announcement was made at a ceremony to announce Vietnam’s best 50 listed companies in 2017 held in HCM City last week.

In 2016, Petrolimex posted nearly VND123 trillion (US$5.46 billion) in revenue, paying a 32% dividend to shareholders. In the first half of 2017, the firm earned VND74.2 trillion in revenue and VND1.77 trillion in net profit.

Petrolimex started trading its 1.29 billion shares on the HCM Stock Exchange on April 21, 2017 under code PLX at VND49,390 per share, equal to market capitalisation of VND63.9 trillion, among the top ten companies in terms of market capitalisation.

The company’s market capitalisation has increased to more than VND80 trillion after four months of listing. PLX finished September 15 at VND68,300 per share.

Other big names included in Forbes’ list were the budget carrier Vietjet Air and brokerage Sai Gon Securities Inc.

More than 322 million shares of Vietjet were traded on the HCM Stock Exchange from February 28, 2017 under code VJC. The share price has gained 30% to close September 15 at VND137,700.

In the first six months of 2017, Vietjet recorded VND16.4 trillion in revenue and VND1.8 trillion in post-tax profit, with the latter figure increasing by 45% year on year.

In the financial sector, Sai Gon Securities Inc (SSI) was among eight financial-banking-insurance firms included in the top 50, the fourth year in a row SSI has made the list.

SSI topped the brokerage sector with the largest market share, revenue, profit and total assets on both the HCM City and Hanoi market.

In the first six months of the year, SSI held 14.85% of the market share on the southern exchange and 12.18% on the northern bourse.

The company posted VND1.24 trillion in its six-month revenue and VND735 billion in pre-tax audited profit. The figures respectively increased by 13.9% and 27.6% from a year ago.

According to Forbes Vietnam, the top 50 listed companies on both local exchanges is equal to 60% of total market capitalisation.

Their total revenue was VND734.8 trillion, a yearly increase of 55%, and total profit reached VND79.4 trillion, a yearly rise of 49%.

The list was made using the companies’ data and information about their revenue, profits, growth rates and development prospects.