Leading Vietnamese broker SSI reported a Jan-Sept after-tax profit of VND1,409 billion ($57 million), down 15% year-on-year and fulfilling 40% of the year's plan.
The company's operating revenues of VND4,824 billion ($194.2 million) was slightly less than the same period last year, fulfilling 47% of the year's target. Operating revenues are those generated from primary business activities.
In the third quarter of 2022, the company posted an operating revenue and after-tax profit of VND1,286 billion ($51.76 million) and VND309 billion ($12.44 million), down 25% and 53% year-on-year, respectively.
By September 30, 2022, SSI's total assets were more than VND44,872 billion ($1.81 billion), down nearly 11% from the beginning of the year, with cash and cash equivalents calculated at more than VND442.5 billion ($17.81 million), down 54.4%.
Loans of more than VND15,592 billion ($627.6 million) marked a year-on-year decline of 34%, of which margin loans hit VND15,386 billion.
Notably, fair value through profit and loss (FVTPL) increased sharply to VND21,224 billion ($854.3 million) compared to VND11,747 at the beginning of the year. Of this, the company invested a large proportion into certificates of deposit worth more than VND12,996 billion and held more than VND400 billion ($16.1 million) of Saigon Ground Services JSC (SGN) shares.
In August, SSI returned to the top of the securities industry in terms of charter capital at VND14,911 billion ($600.2 million) after completion of a share offering.
In the first nine months of the year, parent company SSI traded VND39,339 billion ($1.58 billion) of bonds and VND2,434 billion ($97.97 million) of shares.
On the other side of the balance sheet, SSI's liabilities reached VND23,206 billion ($934 million), down 36% compared to the end of last year, of this short-term loans were VND21,404 billion.