Viettel Global posts surging gross profit margin
Viettel Global posts surging gross profit margin
Over the first three quarters of 2017, Viettel Global, Viettel Group’s international investment arm, scored a total revenue of VND4.227 trillion ($187.2 million), up 8 per cent against the first three quarters of 2016.
The striking feature of the firm’s business performance was the 29.3 per cent surge in gross profit margin (GPM) with gross profit rising from VND463 billion ($20.5 million) to VND1.239 trillion ($54.8 million).
According Viettel Global’s accumulated financial statement, the firm achieved a revenue of roughly VND13 trillion ($572.3 million), VND2 trillion ($88 million) or 19 per cent up against the same period in 2016. The firm’s gross profit rose by 135 per cent, from VND1.25 trillion ($55 million) to VND2.933 trillion ($129.1 million).
Viettel Global recorded a pre-tax profit of VND672 billion ($29.5 million) over the first nine months of 2017, up VND3.2 trillion ($140.8 million) against its 2016 performance.
Recently, Viettel Global’s Board of Directors (BoD) passed a guideline policy and listed 2.24 million shares on UPCoM. The firm’s total assets reached VND50 trillion ($2.2 billion).
Pouring investment into foreign markets since 2016, Viettel Global is currently present in nine markets: Cambodia, Laos, Haiti, East Timor, Mozambique, Cameroon, Tanzania, Burundi, and Myanmar.
In early 2017, Mytel, Viettel Global’s subsidiary in Myanmar, was granted the business licence to legally provide telecommunication services and expects to initiate its mobile communication business in early 2018.
To boot, Viettel’s profit from foreign investments comprises profits gained from Viettel Global and Viettel Peru (Bitel), the tenth market.
Due to legal regulations, Bitel—Viettel’s Peruvian arm—is required to be directly owned by Viettel. During the first six months, Bitel contributed around 40 per cent to Viettel’s profit, which was the largest profit acquired from foreign investment activities by the group.
Viettel is currently the leading telecommunication services provider regarding market share in five out of the ten foreign markets the group has invested in, accomplishing a positive business performance in three consecutive years.
Among the over 100 million Viettel mobile subscribers over the globe, more than 35 million are present in group’s ten markets. Viettel was chosen among the top 30 telecom enterprises in the world with the largest customer base.
