Tran Anh reports first improvement after MWG merger
Tran Anh reports first improvement after MWG merger
Tran Anh Digital World JSC (Tran Anh) reported soaring revenue for the first time since it merged with Mobile World Investment Corporation (MWG).
Notably, in the first month of this year, Tran Anh reported improving business results with a revenue of VND308 billion ($13.53 million), up VND103 billion ($4.5 million) compared to the average monthly revenue of VND205 billion ($9.01 million) last year and equalling 4 per cent of MWG’s revenue.
According to Tran Kinh Doanh, general director of MWG, in late-2017, MWG had to interfere with Tran Anh’s business operations in late-2017 (Tran Anh still operates its stores). The leaked information on the merger negatively influenced customer behaviour and shrunk the company’s revenue.
Tran Kinh Doanh added that MWG has no plan to to increase the number of stores just yet.
MWG earned an accommulated revenue of VND7.86 trillion ($345.3 million). Notably, the revenue from the electronics store chain was VND4.17 trillion ($183.18 million), while the revenue from the mobile store chain was VND3.18 trillion ($139.69 million).
This year, MWG set the target to acquire VND86.39 trillion ($3.79 billion) in accumulated net revenue and VND2.6 trillion ($114.2 million) in accumulated after-tax profit, signifying an increase of 30 per cent in accumulated revenue and 18 per cent in accumulated after-tax profit.
MWG plans to increase the charter capital to VND1 trillion ($43.9 million) and collect VND3 trillion ($131.8 million) in capital to invest in the Bach Hoa Xanh chain, aiming to realise the target of 1,000 stores by the end of this year.
Currently, there are more than 1,500 MWG stores all over Vietnam, including the brands of Dien may Xanh, The gioi Di dong, and Bach hoa Xanh. In the first half only, MWG has opened 272 outlets, with Dien may Xanh stores accounting for over a half.
