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Home / Economy / Trade - Service
FPT Retail sees profit up 30% to US$6.38 million in 6 months
Ngoc Thuy 09:01, 2018/07/20
FPT Retail holds 18% of the mobile phone retail market in Vietnam, second only to Mobile World with 45%.
FPT Retail's after-tax profit in the January - June period reached VND146.5 billion (US$6.38 million), up 30% year-on-year, equivalent to earnings per share (EPS) of VND2,155 (US$0.094), and meeting 39% of the year target. 
 
Illustration photo.
Illustration photo.
During this period, the retail arm of Vietnam's biggest information technology company FPT saw its revenue grow 18% year-on-year to VND7.48 trillion (US$324.7 million), stated FPT Retail's quarterly financial statement. 

In the second quarter, FPT Retail's revenue jumped to VND3.6 trillion (US$156.3 million), up 19% year-on-year. 

FPT Retail's gross profit in the second quarter (Q2) reached VND498 billion (US$21.6 million), equivalent to a gross margin of 13.8%, lower than the rate of 14.2% from the same period last year. 

The company's financial activities income in Q2 saw a reduction of 31% to VND7.81 billion (US$339,024). 

In the April-June quater, sale expenses increased by 14% to VND310.1 billion (US$13.46 million), while financial and administrative expenses also increased, albeit at a slower pace, to VND26.43 billion (US$1.14 million) and VND73.7 billion (US$3.2 million), respectively. 

FPT Retail recorded a after-tax profit of VND82.65 billion (US$3.58 million) in the second quarter, up 28% year-on-year. 

In 2018, the company set target for after-tax profit of VND377 billion (US$16.36 million).

By the end of the second quarter, FPT Retail's total assets value reached VND4.16 trillion (US$180.5 million), in which inventories amounted to VND1.89 trillion (US$82 million) of the total. 

The company increased its charter capital from VND400 billion (US$17.5 million) to VND680 billion (US$29.6 million) through a share dividend payout in May.

FPT Retail owns two retail chains: FPT Shop (selling mobile phones, laptops and accessories of many brands) and F.Studio (providing genuine Apple products and accessories).

FPT Retail holds 18% of the mobile phone retail market in Vietnam, second only to Mobile World with 45%, according to VietnamFinance.
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