HSC reports $50.5 mln after-tax profit in 2021, up 116%

In the reported year, the firm achieved total revenue of VND3,368 billion, which increased 112% from a year earlier, beating the whole-year target by 26%.

In the fourth quarter, HSC reported VND957 billion in revenue, VND279 billion in before-tax profit, increased 86% and 63% respectively compared to the same period of 2021.

Ho Chi Minh City Securities Corporation achieved earning per share of VND3,706. The return on equity (ROE) ratios achieved 23.8%.

Three key businesses brokerage, margin lending, and proprietary investment contributed 98 percent of total net revenue in 2021. Brokerage services accounted for 41 percent of HSC's total revenue, reaching more than VND1,390 billion, strongly increased 124% compared to the same period of 2020, and exceeded 34% yearly plan.

Revenue from margin lending activities completed 121% yearly plan, reached VND1,179 billion, an increase of 114% over the same period and accounting for 35% of total revenue. Proprietary investment achieved VND722 billion in revenue, increased 95% y-o-y and contributed 22% to HSC's FY2021 revenue.

Revenue from corporate financial advisory recorded VND46.5 billion, increased 23% y-o-y. However, due to the timing of revenue recognition, the reported revenue in the accounting period usually does not fully reflect corporate financial advisory business performance.