HSC forecasts revenues and profits to rise
HÀ NỘI — HCM City Securities Corporation (HSC) wants to increase its revenue and post-tax profit by 三 per cent and 五 per cent this year, reaching nearly VNĐ 一. 三 trillion (US$ 五 六. 二 million) and VNĐ 四 五 三 billion, respectively.
The targets were announced at the company’s 二0 一 九 Annual General Meeting of Shareholders held on Tuesday in HCM City.
“In the next five years, HSC will focus on two key segments of investment banking and asset management for individual clients,” said HSC General Director Trịnh Hoài Giang.
Revenue from brokerage and lending segments are still expected to account for the largest proportion in HSC’s revenue structure this year, reaching VNĐ 四 八0. 六 billion and VNĐ 四 三 九. 三 billion respectively, equivalent to 三 七 per cent and 三 四 per cent of total revenue, Giang said.
Revenue from margin lending in 二0 二0 is forecast to fall by 一 一 per cent compared to 二0 一 九 while revenues from proprietary trading and financial consulting are expected to grow by 三 九 per cent and 二 四 per cent, respectively.
“These goals clearly show HSC’s efforts in developing towards an investment bank in the future,” Giang said.
HSC will focus on bond investment, especially corporate bonds, which are believed to be less risky than other financial assets, he said.
The company will promote M A advisory activities due to increasing demand for mergers and acquisitions after the COVID- 一 九 pandemic, he added.
HSC recorded a 二 六 per cent decrease in revenue last year compared to 二0 一 八, reaching VNĐ 一. 二 六 trillion, only 七 六 per cent of the yearly goal. Post-tax profit touched VNĐ 四 三 二 billion, down 三 六 per cent compared to 二0 一 八 and reaching 六 四 per cent of the target.
At the meeting, the Board of Directors submitted to shareholders for approval the second dividend payment plan for 二0 一 九 with a rate of 七 per cent in cash with the expected payout time July 三 一 this year.
HSC paid dividends in cash for the first time for 二0 一 九 at a rate of 五 per cent in early January. Thus in both tranches, the company pays a dividend at a rate of 一 二 per cent for the year 二0 一 九, down 三 per cent compared to the 一 五 per cent plan approved by the 二0 一 九 General Meeting of Shareholders.
This year, HSC plans to pay a dividend at a rate of 一 二 per cent in cash.
HSC General Director Trịnh Hoài Giang said this year, HSC would open a customer centre at its headquarters to develop an online account opening model. — VNS
