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VN’s Viettel Global records $50.6M before-tax profit

VN’s Viettel Global records $50.6M before-tax profit

Viettel Global, a foreign investment unit of telecoms giant Viettel, which is run by Vietnam’s Ministry of National Defence, posted a before-tax profit of 1.17 trillion dong ($50.6 million) in the first half of this year, equivalent to the same period last year.

Viettel Global’s revenue rose 9.7 per cent to 8.6 trillion dong in the period thanks to growth in its three markets of Southern Africa, Latin America and Southeast Asia despite the impact of the Covid-19 pandemic. Its gross profit increased by nearly 19 per cent to 3.3 trillion dong.

A total of 51 per cent of its revenue came from Southeast Asia, where its partner companies Metcom Co Ltd (in Cambodia), Star Telecom Co Ltd (in Laos) and Telecom International Myanmar Co Ltd (which operates as Mytel) saw double-digit growth in revenue.

Net revenue from business activities increased by six per cent to 4.3 trillion dong in the second quarter alone due to major currency fluctuations in its markets caused by the pandemic.

As of June 30, Viettel Global’s total assets and owner’s equities were 59.3 trillion and 29.4 trillion dong respectively.

Established in 2006, Viettel Global currently operates in Cambodia, Laos, Myanmar, East Timor, Peru, Haiti, Mozambique, Burundi, Cameroon and Tanzania.

VIET NAM NEWS/ASIA NEWS NETWORK

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