Bookstore chain Fahasa says profits rise 65%
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Leading bookstore chain Fahasa saw its first half profits surging 65% to VND15.4 billion (US$657,000).
Revenues rose by 10.8% to VND1.77 trillion.
It had an excellent second quarter with profits of VND11.05 billion on sales of VND1.13 trillion.
For the full year it targets profits of VND18 billion and revenues of VND3.5 trillion, up 3,051% and 125%.
Last year, since it had to close many of its stores due to Covid-19 restrictions, its profits were down to just VND590.5 million on sales of VND2.79 trillion.
Fahasa was established in 1976 and went public 30 years later. It has 71 stores across the country now, down from 115 at the end of 2020.
Questions & Answers
Q.What is Fahasa's profit target for the full year?
What is Fahasa's profit target for the full year?
Fahasa aims for a full-year profit of VND18 billion. This represents a targeted increase of 3,051% compared to the previous year, which was heavily impacted by store closures.
Q.How many stores does Fahasa currently operate compared to two years ago?
How many stores does Fahasa currently operate compared to two years ago?
Fahasa currently has 71 stores across the country. This is a reduction from the 115 stores it operated at the end of 2020, indicating a significant consolidation of its retail footprint.
Q.What were Fahasa's sales figures for the first half of the year?
What were Fahasa's sales figures for the first half of the year?
Fahasa's revenues for the first half of the year reached VND1.77 trillion. This represents a 10.8% increase compared to the same period, contributing to their improved financial performance.
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