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Monday, May 23, 2022

MWG eyes investment in Indonesia

The Saigon Times

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HCMC – Mobile World Investment Corporation, which trades its shares on the HCMC bourse under the code MWG, has passed a plan to expand to overseas markets.

The mobile phone retailer gave the authority to Nguyen Duc Tai, board chairman at MWG, to make all decisions related to planning and implementing investment projects in Indonesia.

Regarding the company’s business performance, MWG in the fourth quarter of last year posted over VND36 trillion in revenue and over VND1.5 trillion in after-tax profit, up 32.9% and 65.9% year-on-year. Its gross profit margin fell from 23.1% to 20.4%

In the third quarter of 2021, the peak period of the fourth coronavirus wave, its gross profit margin reached a record high of 25.02%. During the 2017-2020 period, the gross profit margin of the firm ranged from 16.8% to 22.1%. However, entering the reopening period of the local economy, its gross profit margin contracted to 20.4% and was lower than the year-ago figure.

In 2021, MWG saw its accumulated revenue reaching over VND122 trillion and after-tax profit hitting VND4.9 trillion, both improving 13.3% and 25% year-on-year.

Closing today’s session, March 15, MWG edged down 0.23% to VND131,400.

On the HCMC exchange, many bluechips such as consumer goods producer MSN, some bank stocks including BID, VPB, TCB and HDB contributed to the benchmark VN-Index’s rebound after the index ended lower for seven consecutive sessions..

With 272 winners and 166 losers, the index gained 6.49 points, or 0.45% over the session earlier at 1,441.56. More than 675 million shares worth some VND21.8 trillion were traded on the southern bourse, dropping 21% in volume and 20% in value against the previous session.

As for the HNX-Index of the Hanoi market, it added 6.95 points, or 1.59% to close at its intraday high of 443.52, buoyed by the impressive performance of bluechips.

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