Mobile World JSC (HOSE: MWG) has officially been short-listed in the Top 50 Best Performing Companies in Vietnam, courtesy of Nhip Cau Dau Tu.
MWG has secured the fourth place this year, sliding back three ranks from the first place in the same category achieved in 2015.
Previously, Forbes Vietnam also announced its Top 50 Best Listed Companies, highlighting the best-listed firms on the Vietnamese stock market, and MWG, for the second time in a row, was named on the prestigious list. After being listed on the stock market in May 2014, MWG has won prime awards from two prestigious business magazines for two consecutive years.
MWG achieved impressive growth in comparison to 2014, with a profit growth rate of roughly 60 per cent in 2015 and 75 per cent in the first quarter of 2016, not to mention the rapid growth in the number of stores each year.
MWG currently has over 900 outlets across Vietnam, including 800 thegioididong.com stores and over 100 Dien may Xanh shops. In 2015, the company broke into the “Billion-dollar Club” when it attained roughly VND25.3 trillion ($1.15 billion) in revenue and VND1.076 trillion ($49.13 million) in profit. Looking ahead, Dien may Xanh is expecting to celebrate its presence in all 63 cities and provinces of the country, marking itself as the electronics retailer with the widest network coverage.
The stout growth of Dien may Xanh will assist MWG to stride forward even quicker, in a bid to achieve its goal of $1.5 billion in revenue by the end of 2016.
MWG’s prospects are further strengthened through significant advances made by its other subsidiaries, such as the opening of mini supermarket chain Bach hoa Xanh, a market with a potential size of up to $72 billion, of which only about 5 per cent is accounted for by current retail chains. In addition, MWG also seeks to expand to neighbouring markets, like Laos, Cambodia, and Myanmar, while focusing on securing the leading position in e-commerce.
Forbes Vietnam made a remark on the Top 50 Best Listed Companies in 2016, saying, “the short-listed companies are mostly the leaders of their respective fields who have contributed to the country’s socioeconomic development through product innovation, technology, and creativity in providing services. These companies have maintained a competitive edge in terms of high profit margin and good products that help boost sales as well as turnovers.”
“We are very pleased to be recognised by the most creditable magazines in Vietnam. The awards are the results of our hard work that aims to serve customers and bring Vietnamese consumers a modern, considerate, and devoted retail service experience,” said MWG chairman Nguyen Duc Tai.