19:19 (GMT +7) - Tuesday 06/12/2016

Business

Mobile World turnover up in January

Released at: 13:43, 24/02/2016

Mobile World turnover up in January

Turnover at more than $160 million in opening month and after-tax profit at $10 million; both substantial increases year-on-year.

by Hong Nhung

Mobile World Investment Corporation has released its business results for January, with revenue reaching more than $160 million, or 10 per cent of its annual plan and double the result recorded in January 2015.

Profit after tax (PAT) was around $10 million, or 11 per cent of the annual plan and up 118 per cent year-on-year.

It also opened 45 new supermarkets in the month, including 30 thegioididong.com outlets and 15 Dien May Xanh outlets.

According to Mr. Tran Kinh Doanh, CEO of Mobile World JSC, as at the end of January it had 589 thegioididong.com supermarkets, 83 Dien May Xanh supermarkets, and 13 Bach Hoa Xanh shops. The company targets expanding the network to 850 - 1,000 outlets nationwide this year, including both thegioididong.com and Dien May Xanh.

For Bach Hoa Xanh mini-markets the company will focus on service and locations in 2016, without putting a figure on how many new outlets will open or targeting turnover and PAT.

More than 850,000 visits online each day, a huge network nationwide, and rapid delivery services make the company the largest domestic online electronics retailer in Vietnam.

Its targets for this year are $1.55 billion in turnover and PAT of around $63 million, for growth of 35 per cent and 29 per cent, respectively.

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