Mobile World JSC gained US$64 million of profit after 8 months
By Nga Vu
September 25, 2017 | 06:15 AM GMT+7
In the first eight months of 2017, The gioi Di dong (Mobile World) earned the revenue of VND42,283 billion (roughly US$1.86 billion), a year on year increase of 56 percent.
A Thegioididong.com store. Photo: Thegioididong.com
In the first eight months of this year, the Thegioididong.com chain is still the highest contributor to Mobile World’s total revenue. It contributed VND23,410 billion (roughly US$1.03 billion), an increase of 21 per cent from the previous year.
Revenue of the Green Electronics chain reached to VND18,197 billion (approximately US$801.63 million) after its numbers of stores have been doubled compared to the end of last year.
Mobile World has opened additional 414 outlets including Thegioididong.com, Dien May Xanh (Green Electronics) and Green Grocery in the first eight months of this year. Currently, Mobile World has 1,041 Thegioididong.com stores and 475 Green Electronics supermarkets.
The Green Grocery chain contributed VND677 billion (equivalent to US$29.8 million) of revenue in the past eight months. Since the beginning of the year, 105 Green Groceries have been opened, increasing to 153 Green Groceries all over the countries.
Regarding the online segment, Mobile World’s revenue grew by 85 per cent year-on-year to VND3,073 billion (roughly US$135.38 million), equivalent to 52 per cent of its full-year target.
Mobile World’s profit reached VND1,452 billion (approximately US$63.97 million) in the first eight months, registering a growth of 30 per cent from the previous year and 66 per cent of its full-year target.
On August 22, a VND2.5 trillion (US$110 million) budget was approved in Mobile World's General Meeting of Shareholder. This budget is mainly spent on M&A of chains of electronics and pharmaceutical stores.
Recently, Mobile World and Tran Anh Digital World JSC have officially confirmed their M&A deal. Accordingly, Mobile World will acquire Tran Anh's shares, equalling to 25 per cent of Tran Anh's charter capital. This deal is expected to help Mobile World dominate the northern electronics market.
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