Mobile World Investment Corporation (MWG) has released its business performance report for the first half of the year. For the six-month period ending June 30, 2024, the company’s total revenue reached an estimated VND 65,621 billion, a 16% increase compared to the same period last year. This puts MWG at 52% of its full-year revenue target.
In June 2024 alone, MWG’s revenue reached an estimated VND 11,381 billion, a 21% increase compared to June 2023.
The two main chains, The Gioi Di Dong (TGDĐ) and Dien May Xanh (DMX), recorded a combined revenue of VND 44,200 billion for the first half, a modest 6% increase compared to the same period last year, accounting for 67.5% of total revenue. For the month of June, their revenue reached VND 7,300 billion, a 10% increase year-over-year, but a slight decrease from the previous month as the peak season for air conditioners ended.
MWG reported that most product categories are performing well, with phones and TVs experiencing notable growth in sales compared to the previous month, the latter benefiting from the football event.
Notably, in the second quarter, MWG accelerated the review and closure of underperforming stores. While the number of stores decreased compared to the end of March, the total revenue of these chains increased by more than 7% compared to the previous quarter. The restructuring process resulted in positive same-store sales growth, optimized operating costs, and a significant increase in operating profit.
As of the end of June, The Gioi Di Dong (including Topzone) operated 1,046 stores, a decrease of 24 stores compared to the beginning of the month. Similarly, Dien May Xanh also reduced its store count by 87, ending the month with 2,093 stores.
In line with this, An Khang pharmacies also saw a significant reduction of 45 stores in June, bringing the total to 481.
Turning to Bach Hoa Xanh, the grocery chain posted impressive results with a six-month revenue of VND 19,400 billion, a 42% increase year-over-year, and accounting for 29.7% of total revenue – the highest proportion ever. In June alone, Bach Hoa Xanh brought in VND 3,600 billion in revenue, a near 5% increase from May, driven by growth in both fresh produce and FMCG categories.
Tracodi (TCD) earns 163 billion VND profit in 2023
Throughout the year 2023, Tracodi achieved a consolidated net revenue of VND 1,784.5 billion and a post-tax profit of VND 163.3 billion.
Mobile World achieves revenue of VND118,000 trillion: TVs, tablets, and phones all decrease by 10% – 50%, while one product grows in both quantity and revenue.
Mobile World Investment Corporation (MWG) has recently announced its 2023 business results. According to the report, the company’s consolidated revenue reached over 118 trillion Vietnamese dong, equivalent to 89% of the revenue in 2022.
