Viet Nam News

Vincom Retail’s consolidated revenue up by 16%

Vincom Retail Joint Stock Company posted a total consolidated revenue of nearly VNĐ1.62 trillion (US$71 million) in the first quarter of 2018, a year-on-year increase of 16 per cent.

This was revealed in the company’s first quarter financial report.

In the reviewed period, the revenue from leasing and rendering-related services as well as from the sale of inventory properties was nearly VNĐ1.27 trillion and VNĐ335 billion, an increase of 20 per cent and seven per cent compared to the same period last year, respectively.

The company achieved a pre-tax profit of VNĐ702 billion, a year-on-year decrease of eight per cent, due to an absence of profit from associates in the current period.

As of March 31, 2018, Vincom Retail had 46 operational shopping centres in 24 cities and provinces throughout the country. Its total assets were VNĐ38.12 trillion and shareholders’ equity was nearly VNĐ26.64 trillion.

In the first three months of the year, Vincom Retail implemented many attractive marketing programmes for consumers.

Two of the major marketing campaigns were organised throughout the firm’s retail mall network, which resulted in an increase of 15-30 per cent of customers compared to other regular periods.

In addition to this, the company also opened three Vincom Plaza malls in Long An, Bảo Lộc-Lâm Đồng and Thanh Hóa, which were launched on April 28.

Two other Vincom Plaza centres in Huế and Quảng Bình will be inaugurated in May, raising the total number of malls to 51 across 28 cities and provinces in the country. — VNS  Source