Companies manage double-digit growth post-social distancing

By Tat Dat November 16, 2021 | 08:35 pm PT

Employees are seen at a Mobile World. Photo courtesy of Mobile World

Some major companies saw a double-digit surge in sales October as their stores were allowed to reopen after months of closure due to Covid-19 restrictions.

Electronics retail giant Mobile World said sales hit a monthly record of over VND12 trillion after rising 38 percent year-on-year and 45 percent from September.

It reopened nearly 2,000 stores.

Another major retail chain, Phu Nhuan Jewelry, saw sales rise by 12-15 percent year-on-year, according to estimates by RongViet Securities Corporation.

In the first two weeks of October, around 94 percent of its outlets reopened.

Seafood company Vinh Hoan Corp. said sales were up 19 percent year-on-year to VND780 billion, with pangasus fish being the main contributor.

Garment company TNG’s revenues were up 17 percent year-on-year at VND4.5 trillion, and it said it is set to meet its full-year targets.

Some companies have already met the targets.

By October, Petrovietnam Transportation’s pre-tax profit was $33 billion, or 60 percent above its target for the full year.

Tech giant FPT said pre-tax profits have surpassed the target by 4 percent to over VND5.2 trillion.

However, PNJ said the recovery in global jewelry demand would not be noticeable until the end of next year, while Mobile World said achieving this year’s targets would be a challenge.