Tuesday,  Sep 25, 2018,08:30 (GMT+7) 0 0
MWG pours VND3 trillion into Bach Hoa Xanh chain
Minh Chi
Tuesday,  Mar 6, 2018,23:01 (GMT+7)

MWG pours VND3 trillion into Bach Hoa Xanh chain

Minh Chi

Vietnamese farm products are sold at a Bach Hoa Xanh store. With an investment of VND3 trillion this year, MWG’s Bach Hoa Xanh grocery chain shall cover all districts of HCMC - PHOTO: CHI THINH

HCMC - Mobile World Investment Corp (MWG), known in Vietnam as The Gioi Di Dong, will spend VND3 trillion (more than US$131.8 million) to expand its grocery store chain Bach Hoa Xanh in 2018.

According to MWG’s 2018 business plan, the company will open hundreds of Bach Hoa Xanh stores this year.

At present, there are more than 300 Bach Hoa Xanh stores across HCMC. MWG has plans to more than triple the number to about 1,000 stores citywide.

According to MWG’s documents prepared for its 2018 shareholder meeting, the company targets VND86.39 trillion in net revenue and more than VND2.6 trillion in after-tax profit this year, up 30% and 18% year-on-year respectively.

The investment of VND3 trillion for the Bach Hoa Xanh grocery store chain, as well as an investment of VND1.4 trillion for MWG’s other businesses in 2018, will come from the company’s own equities, retained earnings, and medium and long-term loans.

MWG reported more than VND66.3 trillion in revenue and VND2.2 trillion in after-tax profit last year, up 48.7% and 40% respectively compared to 2016.

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