Vinasun profits hit 5 year high

By Tat Dat   July 25, 2022 | 04:45 am PT
Vinasun profits hit 5 year high
Vinasun taxis line a street in Ho Chi Minh City. Photo courtesy of the company
Vietnam’s leading taxi firm Vinasun posted profits of VND57 billion ($2.44 million) in Q2, the highest quarterly result since 2017.

Its revenues rose 65 percent to almost VND250 billion, driven by rallying business in the post-Covid period, the Vinasun management said.

"Our taxi drivers have returned to work, and all our vehicles are in operation."

This year the taxi giant seeks to reverse the VND200 billion annual losses incurred in 2020 and 2021 "at all costs" to avoid delisting.

Its results for the first six months this year prove the goal is completely achievable, with revenues of VND411 billion and profits of VND69 billion.

A ticker will be delisted from the Ho Chi Minh Stock Exchange once reporting losses for three consecutive years.

As of June, Vinasun holds around VND1.5 trillion worth in assets, with debts of VND230 billion.

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