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Mobile World’s 11-month after tax profit rises 22% to almost $193 mln

Bich Phuong Wednesday | 01/05/2022 11:26

Photo: cafeF.vn

Mobile World has reported VND4,395 billion ($193 million) net profit after tax during the Jan.-Nov. period, up 22% from a year earlier.

In the reported period, the retailer of mobile phones, electronic products, medicine, and operator of a grocery chain recorded a consolidated net revenue of VND110,530 billion ($4.8 billion), an increase of 11% against the same period of last year, the company said in a statement.

Online revenue contributed VND12,500 billion ($548 million) to the overall revenue, up 46% from a year ago. With this result, MWG fulfilled 88% of revenue and 93% of net profit target of the whole year of 2021.

In November, the corporation’s net revenue reached VND11,523 billion ($505 million), up 25%. Net profit was VND489 billion ($21.5 million), jumping by 55% year-on-year.

The month had the 2nd highest revenue year-to-date thanks to the outstanding effort of Mobile World and Dien May Xanh chains. The aggregate sales of these two chains in November was approximately VND9,700 billion ($426 billion), up 36%.

In cumulative 11-month, the two chains contributed VND83,800 billion of revenue, up 5%. Online sales reached VND11,660 billion ($511 million), up 40% and accounted for 14% of the total revenue of the two chains.

To accomplish this impressive performance amid the overall market went flat, the key to success of Mobile World and Dien May Xanh chains was securing sufficient stocks to serve consumer demand though the supply has been in severe shortage both in Vietnam and globally.

Regarding grocery chain Bach Hoa Xanh, the chain recorded total sales of more than VND26,300 billion ($1.15 billion) in the period, up 38% from a year ago. Bach Hoa Xanh sales in November reached VND1,800 billion ($79 million).

According to market surveys, purchasing power of consumer goods has been recovered slowly. Moreover, the current wave of COVID-19 spreading in many Southern provinces also affects operation of the chain considerably. Average monthly sales per store of the grocery chain is estimated to be around VND1,800-2,000 billion ($79 – 87 million) in the early months of 2022.

In cumulative 11 months, online grocery via bachhoaxanh.com website recorded 3.8 times the number of orders and 2.8 times the sales value compared to the same period last year.

Online sales accounted for 3.2% and 5% of the grocery chain’s total revenue in 11 months and November respectively. With stable operation after the lockdown period, number of daily orders in Bach Hoa Xanh online channel retains around 7,000-8,000.

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