MWG's profit up 18 per cent

Sunday, Mar 28, 2021 17:02

A MWG's store in Thuong Tin District, Ha Noi. — Photo

As of February, Mobile World Investment Corporation (MWG)'s net revenue increased 6 per cent year-on-year to more than VND21.7 trillion, with its profit after tax also up 18 per cent despite disruptions due to new COVID-19 cases.

A monthly report published on MWG's website showed in February, the company's net revenue rose 34 per cent from the same period last year to VND10.67 trillion, leading to an increase of 73 per cent in profit after tax to VND505 billion.

In the first two months of 2021, MWG posted a climb of 6 per cent year-on-year to more than VND21.7 trillion in net revenue. Profit after tax in the same period was VND999 billion, 18 per cent higher than that of last year.

In the report, MWG said the accumulated data of the first two months of 2021 doesn't precisely describe precisely the company's business activities due to the Tet (Lunar New Year) holiday.

Revenue from online transactions rose 34 per cent year-on-year to nearly VND1.64 billion, accounting for about 8 per cent of its total revenue.

Sales of household appliances, laptops, and watches posted growth during the period, while sales of mobile phones and refrigerator were unchanged compared to last year. Sales of electronic products fell due to weaker demand during Tet.

Many MWG stores had to close or limit the number of customers in stores during this period due to the outbreak of new COVID-19 cases in the peak shopping season started from the end of January to February 10, the company stated in the report.

On the Ho Chi Minh Stock Exchange (HoSE), MWG shares finished last Friday at VND130,000, up 0.93 per cent. — VNS

Comments (0)