FPT Retail (FRT) acquires Viet Han Friendship Company, expanding its distribution system

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Previously, on June 25, 2021, the Board of Directors of FPT Retail issued Resolution No. 05 2021/NQ-HĐQT/FRT approving the policy of investing in a distribution system, in which the Board of Directors assigned to the total the director selects the form of investment and makes the investment.

FPT Retail is the owner of the technology equipment retail chain FPT Shop, the chain of stores selling genuine Apple products F.Studio by FPT and the subsidiary FPT Long Chau specializing in pharmaceuticals.

Accumulated revenue in the first 6 months of 2021 of FPT Retail reached VND 9,024 billion, an increase of 24% over the same period in 2020. In particular, long chau banana revenue reached VND 1,336 billion, nearly 3 times higher than the same period in 2020 and contributed 15% to FPT Retail’s revenue. FPT Retail also reported consolidated pre-tax profit of VND76 billion in six months, up 189% compared to the first six months of 2020.

Regarding the online segment, revenue in the first 6 months of 2021 reached VND 2,829 billion, up 10% compared to the first 6 months of 2020 and accounted for 31% of FPT Retail’s total consolidated revenue.

In 2021, FPT Retail set a business plan with a net revenue target of VND16,400 billion, an increase of 12% compared to the implementation level in 2020. Profit before tax is expected to grow at a “tremendous” rate of 320%, expected to reach VND120 billion in 2021.

Thus, after the first 6 months, the company has completed 55% of the revenue plan and completed 63% of the profit plan.

By the end of the second quarter, FPT Retail had 625 FTP Shop stores, of which 30 new stores were opened compared to the beginning of the year. Long Chau pharmacy chain opened and sold 68 stores, bringing the number of stores in operation to 268 units.

Source: vietnamfinance.vn – Translated by fintel.vn