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WinMart retail chain revenues up 1 pct

By Phuong Dong   October 28, 2021 | 07:46 pm PT
WinMart retail chain revenues up 1 pct
A VinMart+ outlet in HCMC’s Thu Duc City after being renamed WinMart+ in June 2021. Photo by VnExpress/Phuong Dong
WinMart retail chain earned revenues of VND24 trillion ($1.04 billion) in the first nine months of this year, a year-on-year increase of 1 percent, its operator, WinCommerce, said.

According to its latest financial statement, Masan Group, which owns WinCommerce, had revenues of over 64.8 trillion in the period, up 16 percent, with most of its key businesses such as consumer goods, cool meat and mining performing well.

Its earnings before interest, taxes, depreciation, and amortization stood at VND11.07 trillion, up 70 percent.

However, WinCommerce revenues barely increased because the number of WinMart outlets fell after its streamlining late last year. There are currently 2,456 stores, down from over 2,650 in September 2020.

The Masan management said the company’s revenue and profit targets for this year are attainable, but it remains worried about potential new outbreaks of Covid-19, which could impact growth.

In December 2019 Masan Group had acquired a 83.74-percent stake in VinCommerce, which subsequently became WinCommerce.

 
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