Mobile World profits rise 8 pct

By Tat Dat   March 29, 2022 | 05:26 pm PT
Mobile World profits rise 8 pct
A Mobile World store in Ho Chi Minh City. Photo by VnExpress/Tat Dat
Vietnam’s biggest electronics retailer, Mobile World, reported an 8 percent rise in profits to VND1.08 trillion ($47 million) in January-February.

Revenues climbed by 17 percent to VND25.38 trillion, with over 80 percent, or VND21.3 trillion, coming from smartphones and electronics and VND3.9 trillion from its grocery chain, Bach Hoa Xanh.

It reported over VND100 billion in sales from its five newly launched retail chains that sell clothing, mother and baby products, watches and jewelry, and sporting goods and sportswear.

The company management said its drugstore chain An Khang's revenues had tripled year-on-year without providing numbers.

Mobile World targets post-tax profits of VND6.35 trillion on revenues of VND140 trillion this year.

Expanding the core businesses of smartphones and electronics retailing while branching out to new areas are the strategies for growth, the management said.

"Segments with high potential will be prioritized, while the rest will follow their roadmaps," chairman Nguyen Duc Tai told investors at a meeting last month.

Mobile World has 5,420 outlets - 2,122 grocery stores, 2,040 electronics stores and around 1,000 smartphone stores.

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