While a large number of enterprises in Vietnam are struggling, a number of large corporations have managed to continue to earn large profits.
Several giants continued to earn large profits
Because of the sheer size of their assets, these companies can tough it out through the rough economic times.
According to last year's financial reports, the Masan Group, a leading investment firm in Vietnam, ranked first in possession of assets.
Even though Masan’s net profit was down nearly 14% from year before, to approximately VND1.97 trillion (USD94.3 million), they still held an estimated around VND9.573 trillion (USD458.25 million) in property and currency as of December 31, 2011. The figure showed an increase of VND6.2 trillion (USD296.79 million) from the previous year.
The Masan Group focuses on investment, and various subsidiaries involved in production, such as instant noodles, fish sauce and mining.
PetroVietnam Fertiliser and Chemical Corporation (PVFCCo) or DPM ranked second for their ownership of assets, worth VND3.748 trillion (USD179.41 million).
DPM made a net profit of VND3.139 trillion (USD150.26 million) on revenues of VND9.226 trillion (USD441.64 million) in 2011. The figures indicated an increase of 84% in profit and a rise of 39% in revenues compared to one year earlier.
In 2012, the company targets an increase revenue by 70%.
The firm is seeking approval from the Government to distribute fertiliser products made in Ca Mau. If this is approved, the company could hold around 90% of the domestic fertiliser market.
PetroVietnam Technical Service Corporation (PTSC) ranked third, with money and property worth VND3.621 trillion (USD173.33 million), as of December 31, 2011.
In 2011, PTSC made a net profit of VND1.147 trillion (USD54.9 million) on revenues of VND9.356 trillion (USD447.86 million), up 66% and 23% on year, respectively.
They were followed by Vietnam Dairy Products Joint-Stock Company (Vinamilk), with VND3.101 trillion (USD148.44 million), Financing and Promoting Technology Corporation (FPT) with VND2.9 trillion (USD138.82 million) and Bao Viet Group with VND2.7 trillion (USD129.24 million).
Other large Vietnamese companies include Hoang Anh Gia Lai Group, whose total assets were worth VND2.335 trillion (USD111.77 million) and Hoa Phat Group, with VND1.064 trillion (USD50.93 million).
