Digiworld targets 20 per cent sales growth in 2020 despite pandemic

Tuesday, Jun 30, 2020 15:25

Doan Hong Viet, chairman and general director of Digiworld, makes a speech at the annual general meeting on Monday in HCM City. — VNS Photo Thu Ngan

Digiworld Corporation announced its financial plans for 2020 at its annual general meeting on Monday, including a sales target of VND10.2 trillion (US$438 million), or 20 per cent higher than last year.

At the meeting in HCM City, the company said in spite of the market volatility Digiworld also targets a 25 per cent increase in profit after tax to VND202 billion ($8.7 million).

In 2019 the company exceeded targets to achieve revenues of nearly VND8.5 trillion and profits of VND163 billion ($7 billion), respectively up 43 per cent and 48 per cent.

Its debt to equity ratio reduced last year to 0.67 from 1.09 in 2018, as it gradually seeks to reduce debts and focus instead on using internal accruals.

Thanks to better control of operating expenses, the gross profit margin and gross profit ratio were 6.45 per cent and 2.46 per cent, up from 6.21 per cent and 2.31 per cent in 2018.

Doan Hong Viet, chairman and general director of Digiworld, said: “The context of global investment activities is changing and investors are increasingly concerned about responsible investment, which poses new challenges and offers new opportunities to listed businesses.

“Digiworld is determined that corporate governance will not be a short-term task but a constant improvement process. Therefore, we regularly review the company's management structure, processes and regulations to promptly make amendments and supplements.”

Established in 1997, Digiworld is the leading market expansion services provider in Viet Nam.

It has provided market expansion services to and been the authorised distributor for more than 30 global technology brands, and has a distribution network of 16,000 points of sale nation-wide. — VNS

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