MWG make VND165 billion profit in two months

April 01, 2015 | 16:00

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MobileWorld (MWG), the country’s leading mobile phone and electronics retailer, reaped VND3.8 trillion ($178.6) in revenue in the first two months of this year, meeting 16 per cent of its 2015 plan.

Revenues from e-commerce alone hit VND230 billion ($10.7 million). The total net profit was VND165 billion ($7.9 million), completing 19 per cent of this year’s plan.

Within two months, MWG has opened 28 new stores, including two stores in the Dienmay.com distribution chain. Thus, as of end-February, MWG had 394 stores in total, including 372 in the Thegioididong.com chain and 22 in the Dienmay.com chain.

In 2015, MWG set its sights on the total revenue of VND23.6 trillion ($1.1 billion), an on-year increase of 50 per cent, and the net profit of VND886 billion ($41.2 million), 24 per cent higher compared to VND674 billion ($31.3 million) in 2014.

In spite of its positive business results, MWG’s share price plummeted 17 per cent in March, from VND128,000 ($5.9) per share on March 2 to VND107,000 ($4.9) per share on March 31.

By By Kim Oanh

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