Triple Threat: FPT Retail, VNG, and Vingroup Smash Double-Digit Growth in First 9 Months of 2024

The business situation in the first 9 months of 2024 continues to record double-digit growth for retail and multi-industry brands, including FPT Retail, VNG and Vingroup.

Accordingly, in the first 9 months of the year, FPT Retail’s revenue increased by 24% with 2,601 stores nationwide. Along with that, the company recorded consolidated revenue of 28,657 billion VND, completing 77% of the plan. Of which, online revenue of the entire company reached VND 5,041 billion, an increase of 19% over the same period. FRT’s pre-tax profit in the first 9 months of 2024 reached VND 358 billion.

FPT Long Chau chain recorded revenue growth of 62% compared to the first 9 months of 2023, reaching 18,006 billion VND, accounting for 62% of FRT’s total revenue and completing 85% of the 2024 plan. At the same time, operating efficiency Dynamics are maintained with average revenue per pharmacy of about 1.2 billion/month, equivalent to previous quarters of the year.

Long Chau pharmacy chain made a mark in revenue in the first 9 months of FPT Retail. Illustrative photo: Internet.

In the first 9 months of 2024, FPT Shop’s revenue reached 10,904 billion VND, accounting for 38% of the company’s total revenue. Notably, in the third quarter of 2024, FPT Shop had pre-tax profit and average revenue per store reached 2.1 billion VND/month – the highest level since the beginning of the year, contributing to third quarter profits. of FRT grew very well compared to previous quarters.

Also in the third quarter, FPT Shop tested converting 10 regular FPT Shop stores to the FPT Dien May Shop model with differences in household products, diverse electronics, installation and delivery services. It is expected that the company will open 50 more FPT Shop Dien May stores in the fourth quarter of this year.

Regarding store network, by the end of the first 9 months of 2024, FPT Retail owns a network of 2,601 stores nationwide. In particular, FPT Long Chau continues to expand with 1,849 pharmacies, an increase of 352 pharmacies compared to the beginning of 2024.

In the third quarter alone, FPT Long Chau opened 143 new pharmacies, the highest number of new openings in the first 9 months of 2024. In particular, the overall operating efficiency of the pharmacy chain is still maintained with revenue/pharmacy about 1.2 billion/month, equivalent to previous quarters of the year.

FPT Long Chau vaccination center system continues to expand, reaching 115 vaccine centers covering 46 provinces and cities, helping customers easily access reputable and quality medical services, contributing to helping FPT Long Chau Gradually perfect the comprehensive health care ecosystem.

For VNG, the financial report for the third quarter of 2024 recorded net revenue of nearly 2,600 billion VND, an increase of approximately 37% over the same period. Loss after tax was 11 billion VND, a sharp decrease compared to the loss of 649 billion VND in the same period.

Accumulated in the first 9 months of the year, VNG reached nearly 6,900 billion VND in net revenue, up 30% over the same period last year. Loss after tax was nearly 597 billion VND, down from a loss of more than 1,800 billion VND in 9 months last year.

VNG recorded revenue of nearly 6,900 billion VND in the first 9 months of the year. Illustration photo: Phuong Anh.

As for VNG’s core segments, they closely follow the business plan. In particular, Zalo recorded effectiveness from value-added services, reaching 77.6 million monthly active users, an increase of 3% over the same period and nearly 1.97 billion messages sent every day, growth in both users and revenue from services.

Zalopay expands its platform scale, growing 38% in total payment volume and 196% in revenue from financial services compared to the first 9 months of 2023.

VNG Digital Business recorded revenue growth of 58% over the same period in 2023, of which revenue from the global market increased 14 times and accounted for 38% of total revenue.

Revenue from international markets continued to increase, although online gaming revenue decreased slightly. Total bookings of the online game segment reached VND 5,606 billion, down slightly compared to the same period in 2023, of which 26% are bookings from the international market. This segment also recorded a quarterly active user count of more than 77 million.

Currently, VNG’s foreign investors include Chinese technology giants Tencent and Ant Group, as well as Singapore’s GIC and Temasek.

The third quarter 2024 consolidated financial report of Vingroup (VIC) also recorded a lot of positive information with consolidated after-tax profit reaching VND 4,069 billion, 2.6 times higher than the same period last year.

According to information from Vingroup, total consolidated net revenue in the first 9 months of 2024 reached VND 126,916 billion, recording positive changes across all main business pillars including industry, residential real estate, and tourism. travel – vacation and entertainment. Consolidated profit after tax in the first 9 months of 2024 reached VND 4,069 billion, 2.6 times higher than the same period last year.

Vingroup continues to record good revenue for the technology and automobile segments. Illustrative photo: Internet.

With the technology – industry pillar, VinFast delivered 44,260 electric cars in the first 9 months of 2024, marking an impressive growth of 108% compared to the same period in 2023. Specifically, in the third quarter of 2024, VinFast delivered 21,912 vehicles, an increase of 66% compared to the second quarter and 116% compared to the same period last year.

In the commercial and service sector, in the first 9 months of 2024, Vinhomes recorded positive sales results with sales of 90,000 billion VND and unrecorded sales of 123,000 billion VND.

In the field of resort tourism, Vinpearl’s business activities continue to mark prosperity when the number of international visitors staying at Vinpearl facilities in the first 9 months of 2024 increased by 64% over the same period last year, exceeding outperforming the market’s average increase of 43%. VinWonders’ revenue in the third quarter of 2024 also grew by 52% over the same period last year.

Also in the third quarter of 2024, Vingroup actively participated in supporting people in areas heavily affected by super storm Yagi, demonstrating social responsibility for the goal of sustainable development.

In the context that the Government is taking drastic actions to remove difficulties for businesses and projects, in the last 3 months of the year, Vingroup plans to continue promoting business activities and optimizing costs at key fields, contributing to promoting Vietnam’s economic development and achieving the growth target of 2024.