Mobile World (MWG) sets sights on significant 2021 improvements
Mobile World (MWG) sets sights on significant 2021 improvements
The Mobile World Investment Joint Stock Co. targets VND125 trillion ($5.4 billion) in net revenues and VND4,750 billion ($206.6 million) in after-tax profits this year.
The targets are respectively 15 and 21 percent higher than the company's 2020 figures.
The company has said in a statement that while the market still carries risks amidst the Covid-19 pandemic, it is determined to return to double-digit growth. This is the tenth consecutive year that it has set growth goals with increased revenue and profit targets.
One of Mobile World outlets. Photo courtesy of Mobile World.
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The company's backbone business is retailing of smartphones and electronics, and this is expected to contribute around 75 percent of sales, with the rest coming from food and consumer goods.
The firm plans to establish the Dien May Xanh Supermini chain with more than 1,000 stores by the end of this year. Their Bach Hoa Xanh chain that sells vegetables, seafood, meat and fast-moving consumer goods (FMCG) will be expanded with large stores with areas of more than 500 square meters in major metropolises.
Mobile World will also focus on online sales, develop its Bluetronics chain in Cambodia, its high-tech agricultural project named 4KFarm and pharmacy chain An Khang.
Last year, Mobile World earned VND108,546 billion ($4.72 million), up 6.2 percent year on year. Its after-tax profit was VND3,920 billion ($170.5 million).
Mobile World has over 4,000 outlets in Vietnam and 37 in Cambodia. It opened nearly three new outlets a day on average last year. The company plans to become the top retailer in Southeast Asia by 2030.
