MWG has closed more than 90 stores in the Dien May Xanh chain - Illustration photo: MWG
Mobile World Investment Corporation (MWG) has just updated its business performance report for the first 6 months of 2024.
The report said that in the first half of this year, MWG's total revenue is estimated at VND65,621 billion, up 16% over the same period last year, reaching 52% of the 2024 plan.
Of which, The Gioi Di Dong chain (including Topzone) and Dien May Xanh contributed the most with 44,200 billion VND, up 6.3% over the same period.
In June alone, revenue from these two chains reached VND7,300 billion, up 10% year-on-year and down slightly from the previous month due to the air conditioning peak season.
MWG also said the company is stepping up its review and closing of ineffective stores.
As of the end of June, the number of Mobile World stores (including Topzone) was 1,046, a decrease of 25 stores compared to the end of the first quarter.
Similarly, the Dien May Xanh chain also reduced 91 stores, leaving only 2,093. The number of An Khang pharmacies in the MWG system also decreased sharply (45 stores), leaving only 481 pharmacies in operation.
"Although the number of points of sale decreased compared to March, the total revenue of these chains increased by more than 7%," said an MWG representative.
According to the company, the decrease in the number of stores but the increase in revenue is the result of the restructuring process. Accordingly, the positive growth in revenue from old stores and more optimal operating costs have led to a significant increase in operating profits.
For the Bach Hoa Xanh chain, the report said that 6-month revenue reached 19,400 billion VND, a sharp increase of 42% over the same period.
In June alone, Bach Hoa Xanh brought in 3,600 billion VND in revenue for MWG. The average revenue per Bach Hoa Xanh store reached 2.1 billion VND/month.
Regarding the Bach Hoa Xanh chain, Mobile World announced the completion of the private offering of shares to investors last April.
The offered shares are 5% of the total issued shares of Bach Hoa Xanh. The purchasing partner is announced to be CDH Investments - a Chinese company, headquartered in Beijing.
According to MWG, with Bach Hoa Xanh's positive cash flow and continuously improving business results, the chain does not need to offer up to 20% of its shares as originally planned.
Source: https://tuoitre.vn/dong-hang-tram-cua-hang-doanh-thu-the-gioi-di-dong-van-tang-vu-vu-20240730154211179.htm
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