Digital World expects Q2 revenue and profit to rise

Monday, Jul 12, 2021 08:15

Inside a warehouse of Digiworld Corporation (HoSE: DGW). — Photo

Digital World JSC (DGW) expects second quarter revenue to reach VND4.16 trillion (US$181.2 million) and with a profit of VND101 billion, up 61 per cent and 110 per cent respectively over the same period last year.

The mobile phone segment is estimated to contribute the largest to revenue with VND2.12 trillion, up 85 per cent year-on-year. The second largest revenue contributor is the laptop and tablet segment with VND1.3 trillion, up 21 per cent over the same period last year.

The segment with the largest revenue growth of 120 per cent was office equipment with VND657 billion.

In the first six months of 2021, DGW achieved net revenue of VND9.17 trillion, profit after tax of VND208 billion, up 87 per cent and 123 per cent respectively over the same period last year, fulfilling 60 per cent of yearly revenue plan and 69 per cent of profit plan.

DGW plans to issue 44.2 million shares, at the ratio of 1:1 to existing shareholders from undistributed profit after tax. After the issuance, Digiworld's charter capital is expected to double to VND884 billion. Implementation time is expected in the third quarter of 2021.

DGW shares are now trading at VND144,900 per share, up 57 per cent compared to the beginning of the year.

In a recently released report, Bao Viet Securities Company (BVSC) highly valued Digiworld's future prospects with a forecast of compound annual growth rate for the period 2020-2023 for net revenue of 29.7 per cent and profit after tax of 31.2 per cent. — VNS

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