Corporate profit reduces about 60 percent after five years

Corporate profit growth rate reached 7.5 percent in the phase of 2010-2015, accounting for one third of the previous five year phase, reported the General Statistics Office of Vietnam (GSO) about enterprise development situation.

(Illustrative photo: SGGP)

According to the report, profit before tax of businesses in 2015 reached VND552,700 billion (US$24.38 billion). during the phase of 2000-2015, their takings soared 19 percent a year, lower capital increase of 22.8 percent and revenue hike of 21.6 percent.

In 2015 alone, businesses contributed VND746 trillion to the state budget. Annual contribution growth averaged 18.2 percent a year in the phase of 2000-2015, lower than capital, revenue and profit increase.

Up to 97 percent of Vietnamese enterprises are small and medium scaled including 60 percent of very small ones with outdated technologies. Their business efficiency has not been high affecting profit.

By T.Quang – Translated by Hai Mien

Other news

Most view

185 leading domestic & in't enterprises join in VN ETE 2018

185 leading domestic & in't enterprises join in VN ETE 2018

The Vietnam Exhibition of Electrical Technology and Equipment (Vietnam ETE 2018) and the Exhibition of Products, Technologies for Energy Saving and Green Power (ENERTEC EXPO 2018) yesterday kicked off in HCMC’s Saigon Exhibition Convention Center in district 7.

Banking-finance

VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

SAS profits VND 118bln

The Southern Airports Service Joint Stock Company (Sasco) which is listed under code SAS on the Unlisted Public Company Market (UPCoM), announced its second quarter’s financial report with net revenue at VND 634.5billion, an increase of 14 percent compared to last year.