Attentively, Viettel Global’s gross profit increased from VND 2,113 billion to VND 2,769 billion. Furthermore, its gross profit margins rose up to 35.3 percent from 26.4 percent.
The company’s increase in gross profit came from the fact that the company has concentrated its business on telecoms to increase the average revenue per user (ARPU), while reducing the purchase of equipment with low profit rates.
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Telemor, Viettel's subsidiary in Timor Leste |
In terms of revenue structure, the Cambodian market contributed 53 percent of its revenue to the net revenue of Viettel Global. Revenue from this market reached nearly VND 4.2 trillion, up by 27 percent from last year.
Meanwhile, African and Latin American markets gained a revenue of VND 2.6 trillion and 1.09 trillion, respectively.
Mytel, Viettel’s brand in Myanmar, is expected to be one of Viettel Global’s key growth markets in the time to come, although at present its turnover has not yet been included in the company’s business results.
Noteworthy, Viettel Global recorded a pre-tax profit of VND 1,170 billion.
Currently, Viettel Global is among the biggest enterprises on the unlisted public company market (Upcom) in terms of asset size and market capitalization.
As of June 30, the company’s total assets and equity reached VND 59 trillion and VND 25 trillion, respectively. Meanwhile, as of the end of August 2019, its market capitalization reached nearly VND 112 trillion.
With profit growth, the value of Viettel Global’s stock has nearly tripled since the beginning of this year, from VND 13,000 to VND 36,000.
Translated by Mai Huong