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Banking & Finance

ACB Securities record poor Q1

Released at: 13:04, 18/04/2015

ACB Securities record poor Q1

First quarter business results show most indicators in the red.

by Hung Nguyen

ACB Securities has announced its business performance for the first quarter of 2015.

Proprietary trading fell sharply, at just VND3.3 billion ($152,856) against VND52.1 billion ($241,327) in the first quarter of last year.

Profits were VND41.7 billion ($1.93 million), a 40.15 per cent decline year-on-year.

Cash flow from business activities were in the negative, by VND274 billion ($11.44 million), and the company also repaid VND150 billion ($6.94 million) in principal debt at the end of the quarter. Total cash and cash equivalent stood at VND256 billion ($11.85 million), around half of the figure at the beginning of the year.

Short term investment was VND374.57 billion ($17.35 million), 43 per cent higher than the VND210.11 billion ($9.73 million) at the beginning of year.

ACBS set aside VND1.22 billion ($56,510) as provisions in the quarter, significantly lower than the VND15.32 billion ($709,622) for the same period last year.

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