Hot weather brings big profits to air conditioner sellers

According to MWG, most products saw double-digit revenue growth compared to March. Of which, air conditioners saw triple-digit growth due to high demand during the hot season.

Accumulated in the first 4 months of 2023, the total revenue of the Mobile World and Dien May Xanh chains reached 27,500 billion VND. In April alone, the total revenue of these two chains reached 7,300 billion VND, an increase of 30% compared to March thanks to significant sales of air conditioners, household appliances and phones.

Air conditioner sales increased dramatically. (Photo: DMX)

Online sales revenue in April also increased by 24% compared to March, accounting for 20% of the revenue of Mobile World and Dien May Xanh.

Bach Hoa Xanh chain recorded a 6% increase in revenue compared to the same period last year. In April alone, the chain's revenue reached VND2,300 billion, up 3% compared to the same period. Average revenue per store was VND1.35 billion/store/month.

However, MWG did not announce profit estimates for April.

Closing the trading session on May 23, MWG shares were at VND 38,250/share.

Business News

The stock market has a number of other important events of listed companies.

* PNJ : Phu Nhuan Jewelry Joint Stock Company (PNJ) has just announced its accumulated business results for the first 4 months of 2023 with net revenue reaching 12,059 billion VND and profit after tax reaching 859 billion VND.

* FRT : FPT Digital Retail Joint Stock Company (FPT Retail) approved the plan to pay 2022 dividends in cash and shares. On June 7, FPT Retail will close the list of shareholders to pay 2022 dividends at a ratio of 20:3, shareholders owning 20 shares will receive 3 new shares.

* GMD : Gemadept Corporation (GMD) has just announced its consolidated financial report for the first quarter of 2023. The company recorded revenue of VND 901 billion, profit after tax of VND 254 billion. The parent company's profit after tax alone reached VND 202 billion, down 26% over the same period.

* ACB : Asia Commercial Joint Stock Bank (ACB) announced the closing of the list of shareholders to receive dividends in cash (at a rate of 10%) and shares (at a rate of 15%) on June 2.

* L14 : Licogi 14 approved the plan to issue shares to pay 2022 dividends at a rate of 5%. Shareholders owning 100 shares will receive 5 new shares and are expected to implement in 2023.

* BMI : Bao Minh Joint Stock Company (BMI) announced the closing of the list of shareholders to receive 2022 cash dividends at a rate of 5% on June 7, expected to be paid from June 23.

Stock trading

* HPG : Mr. Nguyen Duc Tuan, brother-in-law of Mr. Tran Tuan Duong - Vice Chairman of the Board of Directors of Hoa Phat Group Joint Stock Company (HPG) sold all of more than 135,000 HPG shares from May 17 to July 19 by negotiation and order matching.

* HDA : Mr. Nguyen Quoc Quyen, Deputy General Director of Dong A Paint Corporation (HDA) sold all of his more than 992,000 shares from April 24 to May 19.

* LDG : Mr. Nguyen Minh Khang, Vice Chairman of the Board of Directors of LDG Investment JSC (LDG) registered to sell all 387,875 shares. The transaction is expected to take place from May 25 to June 23.

* DHC : Dong Hai Ben Tre Joint Stock Company (DHC) approved the purchase of an additional 7.76 million shares at Giao Long Paper Joint Stock Company, at a price of VND 10,000/share. After the successful purchase, DHC will hold 17.47 million shares at Giao Long Paper.

VN-Index

At the end of the session on May 23, VN-Index decreased by 4.79 points (-0.45%), down to 1,065.85 points. Total trading volume reached nearly 722 million units, worth VND 12,860.8 billion.

HNX-Index decreased 0.11 points (-0.05%) to 215.79 points. Total matched volume reached more than 106.7 million units, worth VND1,670.1 billion.

UpCoM-Index decreased 0.22 points (-0.27%) to 81.00 points. Total matched volume reached more than 47.6 million units, worth VND566.3 billion. Negotiated transactions had an additional 5.32 million units, worth nearly VND59 billion.

According to BIDV Securities, VN-Index increased from the opening, the index closed at 1,065.84 points, down nearly 5 points compared to the previous session. The breadth was negative with only 6/19 sectors increasing, led by the insurance and industrial services sectors.

Market liquidity is equivalent to the average level of the most recent trading sessions. The market still maintains a fluctuating trend in the range of 1,060-1,080 points.

Meat prices drop sharply, tycoon sells pig farm at a loss The Golden Group Joint Stock Company (TGG) has just announced the transfer of the Hoa Binh Pig Farm project.

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