Mobile World revenues rise 14%

By Thi Ha March 25, 2024 | 06:11 pm PT

Fruits for sale at a Bach Hoa Xanh outlet. Photo courtesy of Bach Hoa Xanh

Retailer Mobile World saw revenues rise by 14% year-on-year in the first two months of the year to VND21.61 trillion (US$483 million), driven by grocery subsidiary Bach Hoa Xanh.

Bach Hoa Xanh, which sells meat, vegetables and other foods mostly in southern Vietnam, saw sales surge by 47% to VND6.09 trillion.

Bach Hoa Xanh CEO Pham Van Trong said fresh foods and consumer goods were the main growth drivers with sales increases of 70% and 40%.

The company was able to achieve this thanks to early preparations in terms of supply and logistics, he added.

Other Mobile World subsidiaries such as smartphone retailers The Gioi Di Dong and Topzone saw marginal growth.

Dien May Xanh, which sells household appliances, reported a 3% rise in revenues to VND10.31 trillion.

Mobile World had 1,077 The Gioi Di Dong and Topzone outlets, 2,189 Dien May Xanh outlets and 1,698 Bach Hoa Xanh outlets as of February.

For the full year it targets revenues growing by 5% to VND125 trillion and profits by 14 times to VND2.4 trillion.