Vietnam 

Airports Corporation of Việt Nam aims for 9 per cent higher profit – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The Airports Corporation of Việt Nam (ACV) has targeted earning VNĐ19.1 trillion (US$820 million) in revenue and VNĐ8.2 trillion ($355 million) in pre-tax profit in 2019, representing year-on-year increases of 7 per cent and 9 per cent. — Photo tbck.v HÀ NỘI — The Airports Corporation of Việt Nam (ACV) has targeted earning VNĐ19.1 trillion (US$820 million) in revenue and VNĐ8.2 trillion ($355 million) in pre-tax profit in 2019, representing year-on-year increases of 7 per cent and 9 per cent. ACV holds a positive view of the growth trajectory of the Vietnamese air transport…

Read More
Home 

French cosmetics maker L’Occitane’s profit beats expectations as sales strategy pay off

L’Occitane International reported a 21.8 per cent growth in annual net profit on the back of strong sales, handily beating estimates.The Hong Kong-listed French cosmetics said on Monday that profit attributed to shareholders stood at €117.6 million (US$131.88 million) for the year ended March compared to €96.5 million a year earlier. Analysts polled by Bloomberg had a consensus estimate of 14.5 per cent growth in net profit to €108.33 million.Net sales jumped 8.7 per cent to €1.42 billion,… Source link

Read More
Home 

Disney veteran plans to turn a profit at Shenzhen’s new theme park in first year

Next year’s planned opening of a theme park by Chinese developer Kaisa Group promises to be a major challenge for the former Disney executive tasked with overseeing the project, especially with an aggressive target of turning an operating profit within the first year.Noble Coker, president of Kaisa International Resorts Group, says he looks forward to bringing the Golden Bay Resort into operation by the summer of 2020, even as he acknowledges doing so will be a major career challenge.“People… Source link

Read More
Vietnam 

Vingroup targets profit of VNĐ6.5 trillion – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Photo shows the entrance of Times City, the urban area built by real estate, retail and tech conglomerate Vingroup. — Photo cafeland.vn HÀ NỘI — Leading real estate and retail conglomerate Vingroup plans to earn VNĐ140 trillion (US$6 billion) in net revenue and VNĐ6.5 trillion in post-tax profit in 2019. The information was released during the group’s 2019 annual general meeting of shareholders on Thursday in Hà Nội. In 2018, the company’s net revenue reached nearly VNĐ122 trillion, up by 36 per cent compared to 2017 due to the increase in revenue…

Read More
Vietnam 

Most SOEs operating at a profit: audit – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  HÀ NỘI – Most State-owned enterprises were operating at a profit but still needed to improve their operational efficiency, according to a report by the State Audit Office of Việt Nam (SAV). In 2018, the SAV audited financial reports and the use of State capital at 253 enterprises under 31 State-owned corporations. The audits found that 30 out of 31 State-owned corporations made a profit in 2017 and contributed significantly to the State budget. However, the SAV revealed a number of errors in accounting at SOEs and said there was US$467.8 million in outstanding taxes…

Read More
Home 

Tencent posts better-than-expected US$3.9 billion first-quarter profit on back of payments, ads, digital content

Tencent Holdings, operator of China’s biggest video games and social media businesses, beat estimates to record a 17 per cent year-on-year increase in first-quarter net profit, primarily driven by commercial payment, social advertising and digital content services.Hong Kong-listed Tencent posted a net profit of 27.2 billion yuan (US$3.9 billion) in the quarter ended March 31, up from 23.3 billion yuan in the same period last year and ahead of the 19.4 billion yuan consensus from analysts… Source link

Read More
Ecommerce 

Tencent Music profit beats estimates as paid subscribers continue to sign up for service

China’s Tencent Music Entertainment Group beat Wall Street estimates for quarterly profit on Monday, as more users paid for its music streaming services.The company, controlled by Chinese tech giant Tencent Holdings, said paid users of its online music service jumped 27.4 per cent to 28.4 million in the first quarter ended March 31.“As our users increasingly consume music content through streaming services, we are riding on this trend to gradually transition into a pay-for-streaming model over… Source link

Read More
Home 

HKEX posts bright first-quarter profit, boosted by surge in foreign trading of A shares

Hong Kong Exchanges and Clearing (HKEX), the city’s stock exchange operator, reported better-than-expected first-quarter earnings, as investment income and surging cross-border trading of mainland Chinese shares boosted revenue.The operator of Asia’s third-largest stock market reported on Wednesday a 2 per cent rise in net profit to HK$2.6 billion (US$332 million) for the January-to-March quarter from the same period last year, beating the market consensus estimate of a 6 per cent decline,… Source link

Read More
Vietnam 

An Phát Plastic target profit up three times – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A factory of Plastic and Green Environment JSC (AAA). — Photo soha.vn HÀ NỘI — An Phát Plastic and Green Environment JSC (AAA) plans to earn post-tax profit of VNĐ510 billion (US$21.8 million) in 2019, 2.8 times higher than the previous year. This year, AAA targets total revenue of VNĐ10 trillion, an increase of 25 per cent compared to 2018. It aims to earn pre-tax profit of VNĐ200 billion in the second quarter of this year. In the first quarter, the company achieved net revenue of VNĐ2.6 trillion, two times…

Read More
Home 

Hong Kong’s benchmark stock index bursts through 30,000 points again as HSBC profit beats estimates

Hong Kong stocks rose on Friday after HSBC beat estimates with its first-quarter earnings, the benchmark Hang Seng Index finishing above the key 30,000-point level.The gauge added 0.5 per cent to close at 30,081.55, bringing the week’s gains to 1.6 per cent, the largest increase in four weeks.Turnover in the market stood at HK$66.9 billion (US$8.5 billion), well below the daily average of HK$110.6 billion achieved in March. The mainland Chinese markets remained closed for the Labour Day public… Source link

Read More