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MWG posts high revenue growth in Jan-Feb

The Saigon Times

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HCMC – Mobile World Investment Corporation, whose MWG shares are traded on the Hochiminh Stock Exchange, has announced that it gained more than VND21.6 trillion in revenue in the first two months of this year, up by 14% year-on-year.

The retailer’s January-February revenue represented 17% of the annual revenue target for 2024.

Of these, the Dien May Xanh retail chain accounted for 47.7% of the total revenue, followed by the Bach Hoa Xanh chain with 28.2%, and the The Gioi Di Dong chain with 21.2%.

The company said that it has managed to enhance performance to bolster the profitability of its chains during the first quarter of this year.

Closing the trading session today, March 25, MWG plunged by 1.63% against the final session last week to VND48,300 per share, with a matching volume of nearly 10.4 million shares.

Regarding the southern bourse, heightened selling pressure caused the VN-Index to lose nearly 15 points during the session today. Nevertheless, several mid and small-cap stocks still stood out, showing resilience amidst the downturn.

With 119 advancers and 351 decliners, the VN-Index of the Hochiminh Stock Exchange fell by 13.94 points, or 1.09% against the final session last week, closing at 1,267.86 points.

There were more than 1.24 billion shares worth VND29.3 trillion changing hands on the bourse, down by 10.14% in volume and 15.76% in value. Block deal transactions contributed VND2 trillion to the overall value, with 76.54 million shares transacted.

The VN30 group put more pressure on the market as it ended the day down by over 14 points. Out of the 30 stocks in the group, 26 edged down, leaving only four in positive territory.

Mid and small-cap stocks stole the spotlight in the market, with NVL and HPX standing out.

With a trading volume of almost 110.5 million shares, NVL climbed 3.5% to VND17,700. Meanwhile, HPX jumped 6.9% to VND8,010. This also marks a 46.7% increase after four consecutive trading sessions.

On the northern bourse, the HNX-Index inched down by 0.36% to 240.81 points, with 65 winners and 93 losers. The trading volume totaled more than 128.45 million shares worth VND2.85 trillion.

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