Saigon Securities sets lower targets for 2008

Tuesday, April 22, 2008
Shareholders of the Saigon Securities Incorporate (SSI) set last Sunday this year’s goal of 550 billion VND (34 million USD) in gross profit from a turnover of 950 billion VND.
The figure is lower than what it achieved last year, with 961 billion VND in pre-tax profits and 1.244 trillion VND in total turnover.
This year’s first quarter SSI gained a 365 billion VND turnover that yielded a 308 billion VND profit, but it allocated 180 billion VND to its risk fund, reducing the profit to 128 billion VND. The poor performance was attributed to the downtrend of the market and fiercer competition.