FPT Retail solve profit problem
2014 is considered as an important milestone of FPT Digital Retail JSC (FPT Retail) as the company earns profit after two years of expansion of operational area, becoming the highlight of FPT Corp in the first half of this year.
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24/09/2014
ICT retail industry showed signs of recovery after the positive signal of the domestic market. According to the Market Research agency GfK, in the first 3 months, total expenditure on electronics market increased by 27.5% compared to the same period in 2013, reaching nearly VND 35,000 billion - highest ever. In particular, mobile phones and tablets occupied VND16,000 billion. The growth of Vietnamese market was high compared to other ones in the region namely Indonesia up 10.6%, Singapore 7.3%.
This result was considered good news for domestic retailers after two years of difficult business because of crises. The market had significant positive impacts on the FPT Retail’s business result.
After the first 6 months, the business indexes of FPT Retail had impressive growth rates, exceeding the plan. In particular, revenue increased by 81% compared to the same period while 71% of the pre-tax profit plan in 2014 was finished. Revenues from phones, laptops, Apple products, old machines and accessories reached from 158% to 211% over the same period. Online sales also gained a good growth, completing 140% of the plan.
In recent years, FPT Retail has promoted expansion of operational with a newly-opened per week, reaching 140 shops nationwide. Most of newly-opened ones in the potential provinces and cities such as Lang Son, Ha Tinh, Ninh Thuan, Nha Trang and Long An earned high turnovers.
This proved more professional promotion and marketing before, during and after launch as well as trust of customers in FPT brand.
CEO of FPT Retail Nguyen Bach Diep believed that the market would keep steady growth in Q3, as young customers were willing to receive new technologies. Accordingly, the company would still focus on its business strategy and select mobile products as key ones.
FPT Retail plans to reach VND 4,000 billion in revenue, more than VND 24 billion in profit in 2014. Besides, 50 shops will be opened, increasing the number of shops to150 ones and reaching 3,500 employees.
