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Mobile World sees 10M profit at $37 million

Released at: 15:27, 21/11/2015

Mobile World sees 10M profit at $37 million

Figure equal to 95% of electronics retailer's annual plan.

by Minh Tran

Mobile World recorded a net profit of VND846 billion ($37.65 million) in the first ten months of the year, or 56 per cent higher than in the same period of 2014 and representing 95 per cent of its profit target for the year as a whole.

Revenue of the electronics retailer stood at 84 per cent of the annual plan, or VND19,891 billion ($885 million), for an increase of 61 per cent year-on-year.

Mobile World also revealed that 83.4 per cent of its revenue (VND16,596 billion, or $739 million), came from its thegioididong.com chain and the remainder from dienmayxanh.com.

Revenue from its online business failed to meet expectations, reaching just VND1,253 billion ($55.8 million), or 63 per cent of the annual target, but was nonetheless 76 per cent higher year-on-year.

Mobile World expanded its distribution network in the first ten months, with 196 new outlets around the country (164 thegioididong stores and 32 dienmayxanh stores). It opened an average of four new stores every week.

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