Mobile World (MWG) profit up 26 pct
Mobile World (MWG) profit up 26 pct
Leading electronics retailer Mobile World reported post-tax profits of VND1.69 trillion ($73.5 million) for the first four months, a 26 percent year-on-year increase.
A Mobile World outlet on Nguyen Thi Minh Khai Street, District 1, Ho Chi Minh City. Photo courtesy of Mobile World.
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Revenues rose 9 percent to VND40.4 trillion, which was attributed to double-digit growth in mobile phone sales, thanks to iPhone sales.
Sales of watches grew 50 percent year-on-year to VND670 billion. The company currently runs over 850 stores selling watches.
Laptop sales fell, but Mobile World explained that was because of the high base effect in 2020 when sales were high as people bought laptops for working and studying from home due to the pandemic.
There were 923 Mobile World outlets as of the end of April, which contributed 26.8 percent of revenues. It also had 1,628 Dien May Xanh electronic retail outlets that accounted for 53.2 percent of revenues.
Bach Hoa Xanh, with 1,803 stores that sell vegetables, seafood, meat, and fast-moving consumer goods, accounted for 20 percent.
It has started selling bicycles at some Dien May Xanh outlets and launched a joint program with small retailers at localities where it lacks electronics stores.
It targets revenues of VND125 trillion and post-tax profits of VND4.75 trillion this year.
