Viettel Global posts $67 mln profit
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Viettel Global has posted pre-tax profits of VND1.55 trillion ($67.1 million) this year, after seeing losses in Jan-Sept last year.
The turnaround has happened thanks to strong revenues in Southeast Asia. Half of the telecom giant’s VND12.4 trillion ($537.3 million) revenue in the first nine months came from Southeast Asia, which went up 24 percent year on year, followed by Africa and Latin America, according to the company’s Q3 financial report.
Its Metfone network in Cambodia saw after-tax profits go up 91 percent to VND672 billion ($29.1 million), while that of its Natcom network in Haiti rose 28 percent to VND261 billion ($11.3 million).
The company’s VGI stock, listed on Vietnam’s Unlisted Public Companies Market (UPCoM), had risen 140 percent to VND32,400 ($1.4) from the beginning of the year as of Thursday, marking a market cap of over VND98.6 trillion ($4.27 billion).
Viettel Global was established in 2006 to spread military-run Viettel Group’s presence in foreign markets. It currently operates in ten markets, namely Cambodia, Laos, Timor Leste, Mozambique, Burundi, Haiti, Peru, Cameroon, Tanzania and Myanmar.
Questions & Answers
Q.Which specific regions contributed most significantly to Viettel Global's revenue growth this year?
Which specific regions contributed most significantly to Viettel Global's revenue growth this year?
Strong revenues in Southeast Asia were the primary driver of Viettel Global's turnaround. This region accounted for half of the telecom giant's total revenue in the first nine months, showing a 24 percent year-on-year increase.
Q.What was the total revenue recorded by Viettel Global for the first nine months of this year?
What was the total revenue recorded by Viettel Global for the first nine months of this year?
Viettel Global reported a total revenue of VND12.4 trillion ($537.3 million) for the first nine months of this year. This figure was disclosed in the company's Q3 financial report.
Q.How did the profitability of Viettel Global's networks in Cambodia and Haiti change this period?
How did the profitability of Viettel Global's networks in Cambodia and Haiti change this period?
The Metfone network in Cambodia saw its after-tax profits increase by 91 percent to VND672 billion ($29.1 million). Similarly, the Natcom network in Haiti experienced a 28 percent rise in after-tax profits, reaching VND261 billion ($11.3 million).
Q.When was Viettel Global originally established and what was its purpose?
When was Viettel Global originally established and what was its purpose?
Viettel Global was established in 2006. Its original purpose was to expand the presence of the military-run Viettel Group into foreign markets beyond Vietnam.