First securities company forecasts loss in 2024

(Dan Tri) - Phu Hung Securities forecasts a loss of nearly VND11 billion in 2024 but this year it could make a profit of nearly VND104 billion.

Phu Hung Securities Joint Stock Company (stock code: PHS) has just released its financial forecast for 2024 and plan for 2025.

In 2024, the company forecasts a 16% decrease in revenue to nearly VND480 billion, with a loss of nearly VND11 billion in after-tax profit.

This year, the company plans to have revenue of 742 billion VND, an increase of 55% compared to last year's forecast; after-tax profit increased dramatically to nearly 104 billion VND.

Phu Hung Securities forecasts loss in 2024 (Photo: PH).

This year, Phu Hung Securities believes that the general economy has bright prospects, and the Vietnamese stock market is currently at a relatively attractive valuation level.

The company expects the overall market profit to increase by 18% compared to the end of 2024 and maintain double-digit growth this year. The projected P/E of VN-Index is also very attractive when compared to other emerging markets in the region.

2025 will be a pivotal year for the Vietnamese stock market as all eyes will be on the story of market upgrading. A successful upgrade will be a bridge to attract new foreign capital flows, improve transparency and help investors minimize risks when participating in the market.

The company also believes that the pre-funding bottleneck has been resolved and expects that new trading products will soon be deployed in the coming years such as T+0 trading, short selling or new derivative products, thereby promoting rapid increase in market liquidity.

Recently, Phu Hung Securities approved a resolution to extend a credit limit of 1.5 million USD and a foreign currency transaction limit of 860,000 USD with SinoPac Bank, Ho Chi Minh City branch. At the same time, the company extended a credit limit of 10 million USD with SinoPac Bank - OBU. All have a loan term of 1 year.

Source: https://dantri.com.vn/kinh-doanh/cong-ty-chung-khoan-dau-tien-du-bao-lo-nam-2024-20250104164522081.htm