Vietnam - Orient Securities Company reports loss of 40.8b dong in 2011

Orient Securities Company (ORS) reported net revenue at 19.7 billion dong and loss of over 34 billion dong during the last quarter of 2011.

In the full year, the broker posted revenue of 130 billion dong, a 1.5 time fold against 2010’s 81.3 billion dong. Its revenue surged thanks to other revenues up from 52.5 billion dong to 115.5 billion dong.

But the firm’s financial cost soared to 139 billion dong from 29 billion dong, leading to a 2011 loss of 40.94 billion dong against 2010’s profit of 28.3 billion dong.

By the end of 2011, total unallocated after-tax profit (accumulative loss) of ORS was -102 billion dong.

ORS share dropped to 1,500 dong per share.

VietBiz24


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