Viettel Global posts US$50.7 million before-tax profit

Wednesday, Aug 05, 2020 10:13

Mytel – a telecom brand of Viettel Group in Myanmar. — Photo courtesy of Viettel Group

Viettel Global, a foreign investment unit of telecoms giant Viettel, posted a before-tax profit of VND1.17 trillion (US$50.7 million) in the first half of this year, equivalent to the same period last year.

Viettel’s Global revenue rose 9.7 per cent to VND8.6 trillion in the period thanks to growth in its three markets of Southern Africa, Latin America and Southeast Asia despite the impact of the COVID-19 pandemic. Its gross profit increased by nearly 19 per cent to VND3.3 trillion.

A total of 51 per cent of its revenue came from Southeast Asia, where its partner companies Viettel Myanmar, Star Telecom (Laos) and Metcom (Cambodia) saw double-digit growth in revenue.

Net revenue from business activities increased by 6 per cent to VND4.3 trillion the second quarter alone due to major currency fluctuations in its markets caused by the pandemic.

As of June 30, Viettel Global's total assets and owner's equities were VND59.3 trillion and VND29.4 trillion respectively.

Established in 2006, Viettel Global currently operates in Cambodia, Laos, Timor Leste, Mozambique, Burundi, Haiti, Peru, Cameroon, Tanzania and Myanmar. — VNS

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