MB Securities' brokerage revenue in the fourth quarter of 2024 reached VND131 billion, down 25% year-on-year, while expenses in this segment remained almost the same at VND130.7 billion. Thus, the gross profit of the brokerage segment was only about VND650 million.
MB Securities' brokerage revenue in the fourth quarter of 2024 reached VND131 billion, down 25% year-on-year, while expenses in this segment remained almost the same at VND130.7 billion. Thus, the gross profit of the brokerage segment was only about VND650 million.
MB Securities Joint Stock Company (MBS) announced its financial report for the fourth quarter of 2024.
Accordingly, the company recorded VND757.9 billion in operating revenue, up 40% over the same period last year. This period, interest from loans and receivables contributed the most to the operating revenue structure with VND268 billion, up 22%. Meanwhile, interest from financial assets recorded through profit/loss (FVTPL) recorded VND217 billion, up 319%. Interest from investments held to maturity (HTM) and interest from financial assets available for sale (AFS) increased by 26% and 76%, respectively. On the contrary, brokerage revenue recorded a decrease of 25% to VND131 billion. This was also the only segment with negative growth in the fourth quarter.
Operating expenses in the period were VND331 billion, up 101%. Of which, the FVTPL loss was VND173 billion, up 612%. Brokerage expenses were at the same level as the same period, reaching VND131 billion. Thus, the gross profit of the brokerage segment was only about VND650 million. Financial expenses and management expenses increased by 31.4% and 11.4%, respectively.
As a result, the company recorded VND207 billion in pre-tax profit, up 2.8%. However, after-tax profit decreased by 4.4% to VND165 billion. This after-tax profit also decreased by about 8% compared to the previous quarter.
Accumulated for the whole year of 2024, operating revenue reached VND 3,120 billion, up 72% compared to 2023. Pre-tax profit reached VND 931 billion, up 30%. After-tax profit increased by 27% to VND 744 billion. Thus, the company exceeded the operating revenue plan by 12% and completed the profit plan set at the Annual General Meeting of Shareholders in early 2024.
 |
| Fourth quarter 2024 profit continues to decline. |
By the end of 2024, total assets reached VND 22,132 billion, up 44% compared to 2023, mainly short-term assets of VND 21,874 billion. Cash and cash equivalents reached VND 1,774 billion, up 211% compared to the end of 2023 and up 12% compared to the previous quarter.
FVTPL reached VND 1,974 billion, up 76% compared to the end of 2023 and up 16% compared to the previous quarter. The FVTPL structure is mainly listed bonds (VND 1,000 billion), other valuable papers (VND 747 billion), listed stocks (VND 168 billion) and unlisted fund certificates (nearly VND 60 billion). HTM reached VND 4,995 billion (mainly term deposits), up 115% compared to 2023 and 31% compared to the third quarter of 2024. The company has VND 2,600 billion in AFS, of which bonds account for VND 1,972 billion.
Loans reached VND10,294 billion, up 12% compared to the end of 2023 and up 4% compared to the third quarter of 2024. Of which, outstanding margin loans reached a record VND10,120 billion. Owner's equity reached VND6,908 billion, up 37% compared to the beginning of the year. The company still has VND819.5 billion in undistributed profit after tax.
On the stock market, MBS shares are trading at around VND27,400/share, down about 15% from the historical peak set in August 2024.
Source: https://baodautu.vn/mbs-mang-moi-gioi-sut-giam-lai-mong-chua-den-1-ty-dong-d241105.html
Comment (0)