Top 500 most profitable firms in 2017 honoured in Hanoi

Friday, 2017-11-24 05:19:46
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Viettel ranks first in the 2017 Profit500 list.
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NDO – The Vietnam Report Joint Stock Company (Vietnam Report) and the VietNamNet Online Newspaper held a ceremony in Hanoi on November 23 to officially announce and honour the top 500 Vietnamese firms with the highest profits in 2017 (Profit500).

The Profit500 ranking has been built based on the criteria of pre-tax profits, revenues and the indexes of return on assets, return on equity and rate of return.

The recognition aims to increase the prestige and trademarks of businesses; support companies in attracting resources and access new business opportunities via the consolidation of trust from partners and investors; and enable enterprises to strengthen competitiveness and sustainable development in the current context of extensive economic integration.

The top ten of the 2017 list included Viettel Group, Samsung Electronic Vietnam Co., Ltd, Vietnam Oil and Gas Group (PetroVietnam), Vietnam Dairy Products JSC (Vinamilk), PetroVietnam Gas Joint Stock Corporation (PV Gas), Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank), Truong Hai Auto Corporation, Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), and Hoa Phat Group Joint Stock Company.

The construction, construction material and real estate sectors have the most companies named in the 2017 Profit500 list, accounting for 17.4% of the total, followed by the finance sector and the food and beverages industry with 11.4% and 10%, respectively.

In addition, Vietnam Report also recognised the achievements of prestigious companies in the food-beverages and retail industries, with the announcement of the top ten prestigious food-beverages brands (Vinamilk, Masan, Acecook Vietnam, Nestlé Vietnam, etc) and the top ten prestigious retailers in 2017 (Big C, Saigon Co.op, Lotte Vietnam, Vinmart & Vinmart+, Aeon Vietnam, etc). These are the experienced companies in their respective industries wins high appreciation from consumers and contribute actively to the general development of the sectors in the period of 2016-2017.

Within the framework of the event, Vietnam Report conducted a study and recognised the results in its bilingual report, Vietnam Earnings Insight 2017, with the theme of “Profit trends by economic sectors in 2017-2018”.

A survey of Profit500 businesses’ feedbacks has shown that in 2017, Vietnam’s business climate has improved significantly. Vietnam is recording a relatively high growth rate compared to expectations, with the Purchasing Managers’ Index (PMI) of the manufacturing sector increasing again. The resolutions implemented by the Government have brought about positive results removing difficulties for businesses and backing the confidence that business production activities will be optimistic until the end of the year.

The profit growth strategy of most Profit500 firms in the time ahead is to increase revenues, especially based on the search for new consumer groups and markets, along with the application of information technology and automation in their operations, and the development of high-quality human resources.