Vietnam’s Stocks: FPT, Long An Food Processing, Ocean Group

Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses, and prices are as of the 11 a.m. local-time close.

The VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, gained 1.5 percent to 519.50. The gauge rose 6.2 percent this week, its best such advance since the period ended Sept. 3.

FPT Corp. (FPT VN), Vietnam’s biggest listed telecommunications and software company, increased 0.8 percent to 64,000 dong. The Hanoi-based company reported a 19 percent jump in net profit to 1.26 trillion dong ($64.6 million) last year, according to an e-mailed statement yesterday. FPT forecast pre-tax profit to rise by 20 percent to 2.42 trillion dong this year, it said.

Long An Food Processing Joint-Stock Co. (LAF VN), Vietnam’s biggest listed cashew processor and exporter, climbed 4.7 percent to 24,600 dong, the highest in nine months. The company’s net income more than doubled to 43.3 billion dong in the fourth quarter from a year earlier, according to a statement on the bourse’s website. Full-year profit surged nearly four times to 83.8 billion dong, the company reported.

Ocean Group Joint-Stock Co. (OGC VN), a real-estate and financial company, gained 3 percent to 24,000 dong, the highest since Jan. 5. Ha Bao Private Co., whose owner is Ocean Group Chairman Ha Van Tham, raised its stake in Ocean to 35 percent from 32 percent, according to an exchange filing.

To contact the Bloomberg News staff on this story: Diep Ngoc Pham in Hanoi at dpham5@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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