Mobile World expects $209.5 million profit in 2020, up 34%

The retailer targets 2020 revenue at VND122.6 trillion ($5.28b), an increase of 17 percent against 2019, according to statement on its website.   

During the past ten 10 months, the company earned $3.67 billion in revenue and after-tax profit of $141.5 million, up 17% and 35% respectively.

As of end-October, the company completed 78% whole-year goal for revenue and 91% of after-tax profit target.

In order to maintain the growth rate, MWG has a strategy to sell new products that have never been sold in Mobile World chain. The company has started selling watches and glasses. It is selling e-scooters.

As of October, the company has 2,812 stores, an increase of 106 stores compared to September. The company has 866 Bach Hoa Xanh stores and is expected to operate about 1,000 stores by December.