VPBS’s 2013 profit to double last year
According to the report, VPBS’s profit after tax in the fourth quarter reached VND 69.415 billion, an increase of 22.3% on the same period in 2012. The 2013 accumulated post-tax profit of VPBS was VND 128.64 billion, 2.1 times higher than in 2012, marking a year of impressive growth.
In 2013, VPBS’s total revenue reached VND 525.45 billion, a slight decrease of 0.5% on the previous year.
In details, securities consultancy activities in 2013 contributed VND 100.3 billion to the company's revenue, nearly 5 times larger than in 2012. Revenue from securities brokerage activities also increased significantly to VND 30.8 billion in 2013.
However, other revenues of the company in 2013 gained only VND 181.2 billion, a decrease of 31% on the previous year.
Despite the slight decrease in total revenues from business activities compared to the previous year, thanks to the more efficient operation and management, the costs of business activities and administrative management in 2013 were reduced dramatically respectively by 22% and 18% compared to 2012.
According to the financial report, by the end of 2013, short-term financial investments of VPBS has sharply increased to VND 451.6 billion from VND 79.8 billion earlier this year, equivalent to 5.7 times higher. Long-term financial investments also rose from VND 81 billion to VND 98.4 billion at the end of 2013.
The short-term debt of VPBS was VND 309.1 billion, a decrease of 50% from early 2013. Meanwhile, the long-term debt of the company increased VND 500 billion to VND 1,600 billion in the beginning of 2013.
The total assets of the company by the end of 2013 reached VND 2,855 billion, 10.9% up compared to 2012.