Viettel Post earns big profit

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The corporation (Viettel Post) last week reported that during this year’s first six months, its revenue totaled $23.7 million, up 26 per cent on-year, including over $638,000 in profit. It also contributed $1.43 million to the state budget.

“With such big revenue, we have already accomplished 49 per cent of the year’s business plan. This has been the biggest level we have achieved from the past till now,” said the corporation’s general director Luong Ngoc Hai.

“It is expected that we will be able to join Vietnam’s growing club of enterprises with revenues of VND1 trillion ($48 million) this year,” he said.

The six-month achievements have reflected the corporation’s sound and sturdy business strategy, in which on some new services have been focused on.

For instance, Viettel Post began in May 2013 cooperation with state-run Military Insurance Company (MIC). Under which MIC would use Viettel Post’s express delivery and office stationery services, and promote its brand name on Viettel Post’s envelopes. MIC would also introduce Viettel Post’s posting services to its customers and partners.

Meanwhile Viettel Post will directly distribute MIC’s insurance products to customers wanting to join these products via its transaction offices nationwide. In addition, MIC will insure Viettel Post’s all assets and responsibilities with competitive costs and best insurance conditions.

“Viettel Post has earned a monthly revenue of VND250 million from this cooperation,” Hai said.

The corporation has also implemented EMS in southern province of An Giang, and in many enterprises. As a result, revenue from this service in this year’s first half has doubled that of the whole 2012.

The corporation has also fetched big business windfalls from overseas markets. For example, Viettel Cambodia’s six-month revenue grew 22.3 per cent on-month, fulfilling 100 per cent of the initially-set plan.

Hai said Viettel Post also targeted to grow 15-20 per cent in revenue, profit and staff for this year’s second half.

At its recent annual shareholders’ meeting 2013, Viettel Post adopted its business plan for 2013, with the total asset of VND246 billion ($11.82 million), up 26 per cent on-year.

Viettelpost’s revenue for this year will be $48.8 million, up 15 per cent on-year. After-tax profit will total $1 million, up 13 per cent on-year and the workforce will rise 7 per cent, and dividend rate will be 12 – 15 per cent.