Taxi company back in the black after four years

By Phuong Dong   May 9, 2023 | 08:49 pm PT
Taxi company back in the black after four years
Mai Linh's taxi driver in Hanoi. Photo by VnExpress/Giang Huy
Taxi firm Mai Linh Group reported its first profit of VND1 billion ($42,600) after four years in 2022.

Its revenues surged by 57% to VND1.65 trillion on recovering demand for transportation after two years of Covid-19.

It had posted a loss of over VND270 billion in 2021.

The company has overcome its most difficult period and is recovering, but its figures show that more work remains to be done, its chairman, Ho Huy, said in a letter to partners earlier this year.

"We have not made as much profit as expected."

The goal is to see every unit making profits this year, he added.

The company’s debt-equity ratio is a ridiculous 43. Anything in excess of two is considered risky.

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