Mobile World revenues, profits skyrocket

Wednesday, Aug 13, 2014 15:51

Mobile World report H1 business result with a profit increasing of nearly five times. — VNS Photo

HCM CITY (Biz Hub) — Giant mobile phone retailer, The Gioi Di Dong (Mobile World) Investment Joint Stock Company has posted a first-half profit of nearly VND312 billion (US$14.8 million), nearly five times the figure a year ago.

Revenues topped VND7 trillion ($333 million), a 68 per cent rise.

The company said that product returns directly affected revenues, rising from VND21.5 billion from a year ago to VND36.4 billion this year. But it continues with the policy of accepting returns within 14 days.

Management and marketing costs too had risen, but low inventories and new store openings helped it achieve good results, it said.

In July alone it opened eight stores around the country. Another 11 are set to open this month, taking the total number to 270. VNS

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