Many businesses make huge profits, retail industry flourishes

Many retail businesses reported huge profits. Illustration photo: Masan Group

Of which, Masan Group Corporation (HOSE: MSN) recorded impressive business results with VND20,134 billion in net revenue, up more than 8% compared to VND18,609 billion in the same period last year thanks to the improvement of core retail consumer business segments.

After deducting taxes and other expenses, this retail giant reported net profit doubled to VND946 billion, the highest level in the past two years.

In the first 6 months of the year, Masan's revenue improved by more than 4% to nearly 39,000 billion VND. Profit after tax increased sharply by 64% to 1,424 billion VND.

This year, the group plans to have revenue of VND84,000 - 90,000 billion (growth of 7 - 15%) while profit after tax is expected to be VND2,250 - 4,020 billion (growth of 15 - 106%).

Similarly, FPT Corporation (Code: FPT) broke its profit record in the last quarter with pre-tax profit reaching VND2,664 billion, up 20.1% year-on-year. Net profit increased sharply by 24% year-on-year to VND1,874 billion.

In the first 6 months, FPT's revenue reached VND29,338 billion and pre-tax profit reached VND5,198 billion, up 21.4% and 19.8% respectively over the same period. Net profit also increased 22.3% to VND3,672 billion.

In 2024, FPT plans to achieve record high business results with revenue of VND 61,850 billion and pre-tax profit of VND 10,875 billion, both up about 18% compared to the results achieved in 2023. With the results achieved after the first half of the year, this enterprise has achieved 47% of the revenue plan and 48% of the profit target.

A retail giant is Mobile World Investment Corporation (Code: MWG), the business results for the first 5 months of the year announced by the company earlier showed positive growth.

Accordingly, in the first 5 months of this year, Mobile World recorded an estimated revenue of VND54,240 billion, up 15% over the same period last year. In terms of chain, revenue from the two electronics and technology product retail chains, Mobile World and Dien May Xanh, accounted for 67.9%, estimated at VND36,900 billion, up 6% over the same period last year.

Next is revenue from the Bach Hoa Xanh retail chain, accounting for 29.2% of total revenue, reaching 15,800 billion VND, up 42% over the same period last year. This is the highest revenue in the history of the Bach Hoa Xanh chain.

For the Bach Hoa Xanh chain, the average revenue in the first 5 months of this year was recorded at 2 billion VND/store/month. With this revenue level, many financial institutions estimate that the Bach Hoa Xanh chain has officially generated profits since April 2024 when the break-even point of this retail chain is estimated at 1.8 billion VND/store.

Similarly, Vincom Retail Joint Stock Company (Code: VRE) recorded its 6th consecutive quarter of over a trillion in profit. Accordingly, the company's net revenue in the second quarter of 2024 reached VND 2,479 billion, up 14%; profit after tax reached VND 1,021 billion, up slightly by 2% over the same period last year.

In the first 6 months of the year, Vincom Retail's revenue reached VND 4,733 billion and after-tax profit reached VND 2,104 billion, up 15% and 4% respectively over the same period in 2023. After 6 months, Vincom Retail completed 47.6% of the year's profit plan.

In the jewelry segment, Phu Nhuan Jewelry Joint Stock Company (HoSE: PNJ) recorded net revenue in the first 6 months of the year reaching VND22,113 billion and profit after tax reaching VND1,167 billion, up 34.3% and 7.4% respectively over the same period.

Retail sales in the first six months increased by 14% year-on-year, contributing 49.5% of total revenue. Wholesale jewelry sales in the first six months also increased by 20% year-on-year.

In 2024, the company plans to have net revenue of VND 37,148 billion and profit after tax of VND 2,089 billion. Thus, after 6 months, PNJ has achieved 59.5% of the net revenue plan and 55.8% of the profit after tax plan for the whole year.

Source: https://laodong.vn/kinh-doanh/nhieu-doanh-nghiep-lai-dam-nganh-ban-le-khoi-sac-1372775.ldo