Sasco shares return to pre-Covid-19 price range

The session that increased to the maximum amplitude on June 11 brought the market price of SAS shares of Tan Son Nhat Airport Services Joint Stock Company (Sasco) to 34,000 VND, establishing the highest price range since the end of August 2019 until now.

Shares of Tan Son Nhat Airport Services Joint Stock Company (Sasco, stock code: SAS) closed the session on June 11 with a 15% increase compared to the reference because they are being traded on the UPCoM market, thereby extending the streak of 3 consecutive sessions of increase. This stock accumulated 4,400 VND compared to the reference, up to 34,00 VND to establish the highest price range in more than 4 years and 9 months, since the session on August 29, 2019. This is a rare ceiling price increase session of SAS since trading on the stock exchange, because before that, the price fluctuation range of this code was usually not more than 3%.

Since the beginning of the year, SAS's market price has increased by nearly 35%, from the price range of VND25,000 to the current level. With more than 133.4 million shares being traded on the UPCoM market, SASCO's market capitalization currently reaches VND4,537 billion.

Along with the strong fluctuations in market price, Sasco's liquidity has also improved significantly in recent sessions. Previously, this stock only matched orders of a few hundred to 5,000 units, but on June 11, 11,345 shares were successfully transferred, equivalent to a transaction value of 3.6 billion VND.

SAS stock price and liquidity chart from September 2019 to present.

Sasco's increase is consistent with the development of many other codes in the non-aviation group. Typically, ACV is also on a strong increase to 121,200 VND, accumulating nearly double compared to the price range at the beginning of the year. Similarly, AST also hit the ceiling on June 11 and fell into a state of no sellers, closing at 64,00 VND.

The excitement in the stock price of Sasco, a business in which Mr. Johnathan Hanh Nguyen's family holds the majority of capital, stems from growth expectations when Long Thanh airport is put into operation.

At the annual meeting on April 10, Mr. Johnathan Hanh Nguyen - Chairman of Sasco Board of Directors - predicted that the economy will recover better this year, but the aviation industry still faces many major challenges in terms of fuel prices, exchange rates, and the level of openness of key international economies.

In that context, the company will focus on Tan Son Nhat Airport, focusing on duty-free sales, lounges and other services. In addition, the company will continue to innovate and enhance effective business development activities, while taking advantage of development opportunities at Terminal T3 of Tan Son Nhat Airport and Long Thanh International Airport. Mr. Johnathan Hanh Nguyen commented that Long Thanh will replace the role of Tan Son Nhat Airport and the future of Sasco there.

This year, Sasco sets a revenue target of VND2,903 billion, up 5% compared to last year. Of which, net revenue from production and business activities is VND2,788 billion, up 8% compared to 2023 and pre-tax profit increases by 3%, to VND343 billion. This plan is built by the company based on the forecast that the aviation industry will still face many challenges in terms of exchange rates, fuel prices, and the openness of key international markets.

In the business results explanation document, the board of directors said the growth came from the company's business operations being restored to normal, and the number of passengers arriving and departing at both domestic and international terminals increasing.

Source: https://baodautu.vn/co-phieu-cua-sasco-tro-lai-vung-gia-truoc-covid-19-d217443.html