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Sunday, June 16, 2024

MWG gains hefty profit in Q1

The Saigon Times

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HCMC – Mobile World Investment Corporation, whose MWG shares are traded on the southern exchange, said that it gained after-tax profit of nearly VND903 billion in the first quarter of 2024, a 41.4-fold increase versus the year-ago period.

The retailer had posted revenue of around VND31.49 trillion in the year to March, up 16.2% year-on-year. Its gross profit margin improved from 19.2% to 21.3%.

In 2024, MWG set a revenue target of VND125 trillion, an uptick of 6%, and an after-tax profit target of VND2.4 trillion, a 13.29-fold rise against 2023.

With after-tax profit of VND903 billion in the January-March period, the retailer has achieved 37.6% of the annual plan.

Closing the trading session today, May 2, MWG rose by 1.28% against the previous session to VND55,600, with a trading volume of over 21.9 million shares.

With winners outnumbering losers by 268 to 194, the VN-Index of the Hochiminh Stock Exchange climbed by 6.84 points, or 0.57% compared to the previous week’s final session on April 26, at 1,216.36 points.

The total trading volume reached over 570.3 million shares worth VND14.4 trillion, down by over 8% in volume and 7% in value. Block deals contributed more than 56.6 million shares worth VND1.8 trillion.

POW was the best performer in the VN30 basket with an upsurge of 5.7% against the previous session, with around nine million shares changing hands on the southern bourse.

At the end of the session, other stocks in the electricity sector performed well. For example, BTP and PPC hit their daily ceiling prices, reaching VND14,900 and VND14,350, respectively.

On the Hanoi Stock Exchange, 82 stocks gained and 87 others dipped. As a result, the HNX-Index inched up 0.67 points, or 0.3%, at 227.49 points. There were 47.1 million shares valued at VND972.7 billion transacted on the northern exchange.

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