Digiworld records significant growth in profit, boosted by mobile phone sales

Thursday, Jul 29, 2021 09:49

Digiworld's employees checking goods in its warehouse. — VNA/VNS Photo

Digiworld Corporation (DGW) has released its financial statement for the second quarter of 2021 with outstanding performance.

Accordingly, the company posted consolidated net revenue of VND4.2 trillion (US$183.7 million), up 63.3 per cent year-on-year, resulting in a jump of 140.6 per cent in profit after tax to VND116.57 billion.

Of which, mobile phone sales continued to grow by 87 per cent in revenue to over VND2.1 trillion thanks to the rising market share of Xiaomi's products and revenue contribution from the iPhone lines.

Meanwhile, laptop and tablet sales slowed down after strong growth in the same period last year. The segment’s revenue rose 23 per cent in the second quarter compared to last year to VND1.33 trillion, boosted by growth of all existing brands and contributions of two new brands including Apple and Huawei.

Office equipment sales reported revenue of VND663 billion, up 122 per cent. The growth was mainly due to the diversity and suitability of IoT products for different customer segments. These products are increasing and becoming the main growth driver of the office equipment segment.

For the consumer goods industry, although healthcare products are strongly affected by social distancing measures, consumer goods products like washing liquid, fabric softener and toothpaste still recorded positive signs with the revenue reaching VND79 billion, up 34 per cent.

In the first six months of the year, Digiworld recorded consolidated net revenue of VND9.2 trillion, up 88.5 per cent. Its profit after tax climbed 140.1 per cent over the year to VND223 billion.

With these results, the company has completed 61 per cent of this year's plan in terms of revenue and 74 per cent of profit after tax.

On the stock market, DGW shares, listed on the Ho Chi Minh Stock Exchange (HoSE), were traded at VND142,000 per share, down 2.74 per cent. For the year, DGW had increased by 73.4 per cent. — VNS

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