SGT’s shares gained to the ceiling price for 13 consecutive sessions after announcing extraordinary profit

Written by  - Sunday, 21 May 2017

From May 3, 2017, when Saigon Telecommunications & Technologies Corporation announced its financial statement for the first quarter of 2017, SGT’s shares increased more than 6.9% and maintained the series up so far.Being listed in the list of penny is not very promising in the market, when SAIGONTEL’s shares traded around VND5,000 / share for 4 consecutive years with liquidity of only a few hundred to several thousand shares per session. However, from early May to now, this stock suddenly became a phenomenon in the market, when the market price more than doubled after 13 consecutive ceiling gains.

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Trading session on 28/4, before the "wave foot" price increase, SGT shares even dropped more than 5% down below 5,000. But just earlier this week, on May 3, when the company announced its first quarterly financial results, the company's stock rose more than 6.9% and maintained its uptrend.According to the latest report, Saigon Telecommunication & Technologies Corporation (SGT) reached more than VND316 billion in the first quarter of 2017, up 3.3 times over the same period last year received more than 135 billion, 6 times more. This helped the company's after-tax profit in the first quarter of 2017 was 17 times higher than first quarter of 2016, reaching over VND69 billion.Profitability in the first 3 months of 2017 is approximately equal to the total profit achieved in the two years of 2015 and 2016 of SGT.According to management's explanation, this result is thanks to the commercial operation of Saigontel has come into stable period, the market distribution of products and services of the company also expanded. At the same time, Bac Ninh Branch also increased its revenue from land sales and rental of factories to push up the company's business results.

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