Press Release: SSI reports its separated revenue and earnings for the second quarter and first half of 2015

Ha Noi, July 20, 2015

  Separated Financial Statement in the second quarter and first half of 2015

Hanoi, 20 JUL 2015 – Saigon Securities Inc. (HOSE: SSI) today reported its separated revenue and earnings for the second quarter and first half of 2015. 2Q2015 profit before tax increased 52.8% compared to a year ago. For details, 2Q2015 revenue and profit before tax were 396.5 and 449.1 billion VND respectively. For the first 6 months revenue reached 761.6 billion VND and profit before tax were 679.6 billion VND, representing 13.9% increase from a year ago in profit before tax. The down turn in the market and low liquidity during the first half of the year caused the first 6 months revenue to decline 13%. The company’s financial safety ratio reached 723% at the end of June 2015.

Brokerage Services’ revenue reached 71.2 billion VND at the end of 2Q2015, representing 4.9% YoY increase. Due to great synergy among business units, hardworking spirit of staffs, improving quality of report and advisory services SSI continued to maintain its 1^st position brokerage market share in HOSE and HNX, which is 13.52% and 8.54% respectively, widening the gap between SSI and the second one. New accounts opening increased 48% in the first 6 months of 2015. 

Principal investment revenue reached 181.5 billion VND at the end of 2Q2015, an 8% higher than the first quarter of 2015 but declined 36% from a year ago. The main reason for the decline is the total investment liquidated in 2Q2015 is lower than that of 2Q2014. This is also the reason for an 18.8% declining in total 2Q2015 revenue compared to a year ago. 

During the second quarter of 2015, SSI sold its investment in Southern Seed Company (HOSE: SSC) and recorded a gain in principal investment. Therefore, SSC is no longer SSI’s associate company. SSI also liquidated an OTC investment in 2Q2015 and the investment proceed will be received in tranche. As a result, a reversal of provision was made, making the operating expense declined at the end of 2Q2015.

In the event that the market does not face any unexpected volatility from now until the end of the year, the Company believes that SSI will achieve its 2015 business plan as stated at AGM in April, 2015.

Corporate Communications

Saigon Securities Inc. - SSI 

1C Ngo Quyen, Hoan Kiem, Hanoi, Vietnam

T: (844) 3 936 6321 | F: (844) 3 936 6319 

E: [email protected]| W: www.ssi.com.vn