The overall market profit continues to rise, maintaining double-digit growth, which continues to be the foundation for investors to choose good businesses for the upcoming investment cycle.
The domestic stock market fell today, with Vindex losing more than 1% to 1,257 points. According to experts, this is an inevitable consequence of weak cash flow, but it has opened up opportunities for investors , especially in a vibrant third quarter business results reporting season . According to data from Fiin Group, nearly 600 businesses have announced financial reports representing 28.2% of the total market capitalization, announcing third quarter business results and the first impressive growth rates have also been revealed, showing a positive trend in the overall picture and the heat on the profit race for the whole year.
The 2024 profit target is very close for many businesses, but there are also names that are still struggling near their starting line. In the bustling third quarter business results reporting season, investors can also see more clearly many positions on the profit track.
The leading group has many names in the banking group such as Techcombank with a profit of nearly 7,200 billion VND or EIB with a growth of 39% and notably, LPB of Loc Phat Bank with a growth of more than 130% compared to the same period. Manufacturing enterprises also strengthened their position in this race, MSN of Masan reported a profit of more than 700 billion VND in the third quarter, a growth of 1,300%, or Hoa Phat also had a profit one and a half times higher than last year. Meanwhile, there are still enterprises still struggling near their starting point, PDR of Phat Dat real estate has reduced its profit by half compared to the same period and has only gone 1/3 of the way of this year’s profit plan. BSI of the financial services group has a profit decrease of over 40% and they have only gone about 8% of the way, similarly, CTS of Industry and Trade Securities also decreased its profit in the third quarter. Despite strong differentiation, overall market profit growth is still continuing the positive momentum of the quarters.
“Businesses’ profits in the third quarter will continue to grow year-on-year and the growth rate will remain double-digit. In a positive scenario, I think the growth rate will be around 15-18% in the third quarter compared to the same period in 2023,” said Ms. Do Hong Van, Head of Analysis at Fiin Group.
Mr. Dang Tran Hung, Training Expert, VPS Securities Joint Stock Company said: “I highly appreciate the growth of the non-financial group. It has had a growth of about 30% with about 500 businesses announced and it has growth compared to the most recent quarter”.
According to experts, non-financial groups outside of real estate such as retail, construction and materials, food and beverage with positive business results from core business activities will also strengthen the market’s profit growth momentum in the coming time.
Notably, the profit from Masan’s retail consumer business, especially their Winmart chain, has made a profit for the first time since the Covid 19 pandemic and the company has brought in better business results, so major shareholders and related people do not hesitate to spend money to own more shares. Typically, on October 24, Ms. Nguyen Yen Linh, daughter of the Chairman of the Board of Directors of Masan, announced her registration to buy an additional 10 million MSN shares, the transaction is expected to take place from October 29 to November 18 by negotiation or order matching.
According to experts, the retail sector will also have more momentum in the fourth quarter thanks to year-end consumer demand. However, there will be differentiation between businesses, and investors may even see fewer businesses growing by multiples or thousands of percent, because profits are gradually increasing each quarter, and this requires investors to choose carefully after this earnings season.