FPT Retail surpasses year profit target in 6 months
FPT Retail, a digital product retail chain, reported pre-tax profits of VND161 billion ($6.4 million) in H1/2024, surpassing the year's target by 28%.
The after-tax profit was VND109 billion ($4.34 million), according to its consolidated financial statement.
FPT Retail, listed on the Ho Chi Minh Stock Exchange as FRT, recorded consolidated revenues of VND18,281 billion ($728.4 million) in the six-month period, up 22% year-on-year and 49% of the year's plan.
An FPT retail outlet. Photo courtesy of the company.
The first half of 2024 also saw FPT Long Chau pharmacy chain, part of FPT retail, post a 67% year-on-year increase in revenue to VND11,521 billion ($459 million), accounting for 63% of FPT Retail's total revenue.
The chain maintained operational efficiency with average revenues of about VND1.2 billion ($47,810) per pharmacy per month, despite opening numerous stores in new locations.
In the technology and household goods segment, FPT Shop, also part of FPT Retail, generated VND6,923 billion (275.84 million) in revenue, accounting for 37% of the company's total H1 revenues.
As of H1, FPT Retail operated a total of 2,435 stores nationwide. This included 1,706 FPT Long Chau pharmacies, an increase of 209 from the start of 2024. After system optimization, FPT Shop had 642 outlets nationwide.
In Q2/2024, it earned revenues of VND9,240 billion ($368.2 million), a 29% year-on-year increase. Year-on-year, Q2 interest expenses decreased from VND76 billion ($3 million) to VND55 billion ($2.19 million), selling expenses rose 41% to VND 1,362 billion ($54.2 million), and management expenses increased 25% to VND320 billion ($12.74 million).
FPT Shop in Q2 completed system optimization by closing approximately 100 underperforming stores, with all related closure costs recorded in the quarter.
Despite this, Q2 revenues decreased by only 7% compared to the same period last year, with average monthly revenue per store reaching VND1.6 billion ($63,750).
The company reported post-tax profit of VND48 billion ($1.9 million), a significant turnaround from a loss of VND215 billion ($8.56 million) in Q2/2023.
- Related News
- Read More
Vietnam distributor of Chinese EVs reports big profit growth in Q1
Vietnam’s TMT Motors Corporation (HoSE: TMT), the distributor of Chinese electric vehicle brand Wuling, reported VND33.76 billion ($1.3 million) in Q1 after-tax profit, about 125 times higher than Q1/2024.
Companies - Sun, May 4, 2025 | 7:38 pm GMT+7
Vietnamese EV maker VinFast signs loans worth $190 mln for Indonesia plant
VinFast, the electric vehicle arm of Vietnam's leading private conglomerate Vingroup, has secured a long-term syndicated loan agreement worth IDR1.85 trillion ($110 million) and an $80 million accordion facility from two Indonesian banks to finance the construction of its plant in Indonesia.
Companies - Sun, May 4, 2025 | 12:55 pm GMT+7
Vietnam's logistics major Transimex targets 20% profit growth in 2025
Transimex, a top logistics firm in Vietnam, targets net profit of over VND204 billion ($7.8 million) for 2025, up 20% year-on-year, on revenue of over VND3.36 trillion ($129.2 million), up 1%.
Companies - Sun, May 4, 2025 | 12:23 pm GMT+7
Vietnam's retail giant Petrolimex seeks foreign partnership in green energy technologies
Vietnam's biggest gasoline retailer Petrolimex has started selling biofuels and is actively seeking opportunities to partner with international players to invest in green energy technologies. Chau Anh reports.
Companies - Sun, May 4, 2025 | 9:37 am GMT+7
Vietnam's major tire maker Danang Rubber to be supplier of EV maker VinFast
Danang Rubber JSC (DRC), a subsidiary of Vietnam’s state-owned chemical giant Vinachem, will develop a dedicated line of electric vehicle (EV) tires while rolling out products to support its new partnership with the country's leading EV manufacturer VinFast.
Economy - Sun, May 4, 2025 | 8:00 am GMT+7
Vietnam’s VN-Index world’s second-worst performer in Apr amid US tariff turmoil
Vietnam’s benchmark VN-Index dropped by more than 80 points, or 6.2%, in April, ranking as the second-worst performing stock index globally, according to data compiled by IndexQ.
Finance - Sat, May 3, 2025 | 6:48 pm GMT+7
American International School Vietnam chairwoman arrested for disrupting public order
Ho Chi Minh City police's investigative agency on Thursday initiated legal proceedings against and detained chairwoman of American International School Vietnam (AISVN) Nguyen Thi Ut Em for "disturbing public order.”
Companies - Sat, May 3, 2025 | 5:07 pm GMT+7
Nike, Adidas ask President Trump for tariff exemption over business shutdown concerns
Major footwear and apparel brands, including Nike and Adidas which outsource a large portion of their output from Vietnam, are asking U.S. President Donald Trump for a tariff exemption due to concerns over looming cost surges and business shutdown.
Economy - Sat, May 3, 2025 | 1:12 pm GMT+7
Vietnam's Novaland wins lawsuit against Korean giant Taekwang Vina over HCMC project
Vietnam's leading developer Novaland has won a legal dispute with South Korea’s Taekwang Vina regarding a major real estate project in Thu Duc city, Ho Chi Minh City.
Companies - Sat, May 3, 2025 | 11:20 am GMT+7
Vietnamese approves two-year sandbox trial of P2P lending
Vietnam will roll out a two-year sandbox trial of peer-to-peer (P2P) lending, credit scoring, and data sharing via open application programming interfaces, starting July 1, according to a newly-issued government decree.
Banking & Finance - Sat, May 3, 2025 | 8:17 am GMT+7
Hyundai Vietnam joint venture to spend $100 mln on shipbuilding capacity expansion
Hyundai Vietnam Shipbuilding Co., Ltd. (HVS), a joint venture between South Korea and Vietnam, is set to invest an extra $100 million in expanding its shipbuilding capacity in Vietnam.
Industries - Fri, May 2, 2025 | 8:03 pm GMT+7
Vietnam's economic hub HCMC moves closer to establishing int’l financial center
After more than two decades of planning, the vision of establishing an international financial center in Ho Chi Minh City is finally gaining real momentum as the Politburo has officially endorsed the proposal, drawing significant attention from investors.
Southeast Asia - Fri, May 2, 2025 | 6:04 pm GMT+7
Vietnam cuts LNG import tariff to boost clean energy transition
The Vietnamese Government has reduced the preferential import tariff on LNG from 5% to 2% under a decree issued on March 31, which marks a key step in accelerating the country’s shift from fossil fuels to cleaner energy.
Southeast Asia - Fri, May 2, 2025 | 3:26 pm GMT+7
Vietnam races against time to have EC’s 'yellow card' lifted before Sept 15
Vietnam's Ministry of Agriculture and Environment has proposed Prime Minister Pham Minh Chinh issue an action plan to address the European Commission's (EC) “yellow card” warning and prepare for the fifth EC inspection.
Southeast Asia - Fri, May 2, 2025 | 3:21 pm GMT+7
Vietnam's property market sees mixed prospects in Q2: analysts
Vietnam’s real estate market is expected to see positive developments in Q2, with developers launching new projects, but uncertainties from U.S. trade policies may influence market sentiment and consumer confidence, said analysts.
Real Estate - Fri, May 2, 2025 | 3:14 pm GMT+7
Vietnam’s largest container fleet operator records 478% profit growth in Q1 on surging shipping rates
Vietnam’s Hai An Transport and Stevedoring JSC (HAH) reported after-tax profit of nearly VND274 billion ($10.54 million) in Q1/2025, skyrocketing 478% year-on-year, thanks to soaring shipping rates.
Companies - Fri, May 2, 2025 | 3:00 pm GMT+7
