Viettel gets ready to post first class fourth quarter results

Viettel gets ready to post first class fourth quarter results

Military-run Viettel Post Joint Stock Corporation is dreaming about a successful fourth-quarter profit harvest.

Viettel Post last week announced that it had planned to reap the total fourth-quarter turnover of VND516 billion ($24.57 million), up 14.7 per cent on-quarter.

It is expected that total turnover for the whole 2014 will be more than VND1.7 trillion ($80.95 million), up 57 per cent against last year. The turnover of the corporation’s core business areas including express delivery and stationery will be VND302 billion ($14.38 million) and 20.4 billion (971,400), respectively.

Viettel Post also expected to earn a pre-tax profit of nearly VND49 billion ($2.33 million) within this year, and contribute VND61.1 billion ($2.9 million) to the state coffers.

The corporation said that these feasible targets were inspired by its good third-quarter business results.

Specifically, Viettel Post’s third-quarter turnover reached VND451 billion ($21.47 million), with a pre-tax profit of VND13 billion ($619,000), up 6 per cent on-quarter and 59 per cent on-year.

The total third-quarter contribution to the state budget was VND15.3 billion ($728,570), up 43 per cent on-year.

In this year’s third quarter, the corporation successfully expanded its service network to South Korea and Malaysia, raising its overseas offices to five countries.

The corporation in the third quarter also boosted co-operation with Vietnam Airlines in selling air tickets, while successfully established its stationery and logistics projects.

Earlier, Viettel Post set a revenue target of $190.5 million by 2019, with an average annual growth rate of 20-23 per cent. Also by 2019, the corporation’s post-tax profit will hit $2.33 million, up 13-15 per cent, per year, and with a dividend payment rate of 15 per cent, per year.

The corporation’s total assets will be valued at $28.6 million, annually up 18 per cent by 2019, according to the corporation’s targets.

vir