Vincom Retail profit surges 33 times

By Dat Nguyen   October 27, 2022 | 11:52 pm PT
Vincom Retail profit surges 33 times
Customers shop at a Vincom mall. Photo courtesy of Vincom Retail
Retail property firm Vincom Retail saw post-tax profit surge 33 times year-on-year to VND793.63 billion ($31.96 million) thanks to a recovery in domestic consumption.

The company said its revenue rose 225% to VND2 trillion as big retail brands have been opening outlets in its Vincom malls, such as Trung Nguyen Legend and Uniqlo.

It plans to boost consumption in the remaining months by launching Black Friday and Christmas events.

Vincom Retail, a unit of conglomerate Vingroup, operates 83 malls in 44 localities.

Its profit surged 63% year-on-year in the first nine months to VND1.94 trillion, meeting 80% of its target for the year.

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