Thursday, May 03, 2007

SSI first quarter profit up fourfold

Top Vietnam stock brokerage Saigon Securities Inc. said on Thursday its first quarter net profit jumped four times from a year earlier to 465.3 billion dong ($28.8 million).

Its quarterly revenues rose 245% to 573 billion dong ($35.5 million), the Ho Chi Minh City-based company said in a statement published by the Hanoi over-the-counter market <.HASTCI>.

SSI also advises state-owned companies on privatisation as well as underwriting share and debt issues. It is among about 45 companies offering such services in Hanoi and Ho Chi Minh City.

Shares in the company edged up 0.3% on Thursday to 218,000 dong ($13.5), but are 21% down from their year high of 276,700 dong ($17.2).

Source: Reuters

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