Digiworld (DGW) reports high profit growth in 2020

Digiworld Coporation (“DGW”) on Tuesday reported a year-on-year growth of 48 per cent in revenue and 64 per cent in profit for 2020.

 

At the shareholders' meeting on Tuesday in HCM City, the company reported that it had achieved total net revenue of VND12.5 trillion (US$539 million) and an after-tax profit of VND267 billion ($11.5 million) for 2020.

The figures represented 123 per cent and 132 per cent over the annual plan, DGW said.

According to audited data, as of December 31, 2020, Digiworld's total assets reached more than VND3.07 trillion ($132 million), an increase of more than VND660 billion ($28.5 million) compared to the beginning of the year.

At the meeting, the company announced its plan for 2021 with revenue of VND15.2 trillion ($655 million) and profit of VND300 billion. The mobile phone segment still accounts for the largest proportion, followed by laptops, office equipment and consumer products.

Recently, Digiworld announced its plan to pay dividends for 2020 in cash of 10 per cent and to issue shares from equity at the ratio of 1:1 (1 share equals 1 new share). Expected implementation time is from the second quarter to the third quarter of 2021.

Digiworld plans to issue shares under the Employee Stock Ownership Plan (ESOP) in 2021. The maximum quantity is 2.5 per cent of outstanding shares at the price of VND10,000 per share.

Doan Hong Viet, general director of Digiworld, said: “In 2021, Digiworld is expected to continue to achieve positive growth thanks to the strategy of focusing on premium laptop and mobile phone market, as well as seizing the opportunity associated with the Government's programs of national digital transformation and 5G network development."

At the meeting, DigiWorld announced its goal of focusing on organisational development. The company is looking for young talents in an aim to create a dynamic and creative workforce.

Furthermore, Digiworld is consistently pursuing its goals to connect internal affairs with practical activities, and create the best working environment for each individual to maximise their capabilities and remain with the organisation.

bizhub

DGW 131,000 8,000 +6.50%

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