•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
As the Q1 2026 earnings season concludes, the profitability picture of listed companies shows several notable bright spots. In Q1 2025, only two firms reported pretax profits above 10 trillion dong (VFEAC and Vietcombank). In Q1 2026, five firms recorded pretax profits exceeding 10 trillion dong.
Vinhomes posted the highest pretax profit in Q1 2026 at 30,727 billion dong, far ahead of other companies on the list. Compared with 3,839 billion dong in the same period a year earlier, Vinhomes’ pretax profit rose 700%, making it the quarter’s profit leader.
The company attributed the performance primarily to project handovers at Vinhomes Ocean City and Vinhomes Royal Island.
Vingroup, the parent company of Vinhomes, ranked third with pretax profit of 11,537 billion dong, up 56% year-on-year.
Banks continued to dominate the rankings: 10 of the top 20 firms are banks, including Vietcombank (VCB), VietinBank (CTG), MB (MBB), Techcombank (TCB), BIDV (BID), VPBank (VPB), ACB, HDBank (HDB), SHB and LPBank (LPB).
Vietcombank maintained the lead among banks with pretax profit of 11,803 billion dong, up 9% year-on-year. VietinBank delivered the strongest growth among the top banks, with pretax profit of 11,139 billion dong, up 63%. The only bank showing a decline was LPBank, with pretax profit down 11%.
Lọc hóa dầu Bình Sơn (BSR) stood out among non-bank names, reporting pretax profit of 9,249 billion dong, up 1,861% versus Q1 2025 (472 billion). The improvement reflects positive movements in crude oil and refining product prices, supporting the company’s margins.
During the period, BSR sustained high utilization of the Dung Quất Refinery, averaging 124%–125% of equivalent capacity. This helped increase finished product output and capitalize on the gap between crude input and product prices.
PV Gas recorded pretax profit of 3,755 billion dong, up 10% year-on-year.
Hoa Phat (HPG) posted pretax profit of 10,762 billion dong, up 180% compared with Q1 2025. The increase was supported by the group’s real estate asset transfers in Phố Nối, Hung Yen.
Other notable sector performances included aviation, with Vietnam Airlines (HVN) at 4,680 billion dong in pretax profit. The rankings also included MWG in retail, FPT in technology, Vinamilk in dairy, and VRG in rubber.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
