Mobile World needs just 9 months to hit year's profit target

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Giant mobile phone retailer Mobile World Investment Corporation announced on Friday that it had achieved the full year profit target in just nine months.

The company reported after-tax profits of VND488 billion ($23 million) for the first nine months on revenues of over VND10.9 trillion ($519 million), a 66 per cent year-one-year rise. — Photo f319.com

HCM CITY (Biz Hub) – Giant mobile phone retailer Mobile World Investment Corporation announced on Friday that it had achieved the full year profit target in just nine months.

At a media briefing in HCM City, the company reported after-tax profits of VND488 billion ($23 million) for the first nine months on revenues of over VND10.9 trillion ($519 million), a 66 per cent year-one-year rise.

MWG chairman and CEO Nguyen Duc Tai hailed the contribution made by online sales.

"The revenue from online business in nine months was over VND608 billion [$29 million], double the figure for the whole of 2013. By the end of this year the revenue is expected to be over VND800 billion [$38 million]."

During the period in review the company opened 60 more stores. In October only, 28 stores were opened nation-wide.

Tai said thegioididong.com has a market share of 28-30 per cent and would stop expanding when it reaches 40 per cent.

MWG plans to focus o developing its consumer electronics and home supplies chain dienmany.com next and targets leadership of that market too with a share of 8-10 per cent. VNS


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