FPT Retail witnessed improving revenue for its pharmacy and laptop segments due to rising demand for drugs and laptops amidst the spike in COVID-19 infections and social distancing policies.
|FPT Retail has been reporting brisk business in pharmacy and laptop retail amidst the pandemic |
By the end of the first six months of 2021, FRT recorded an accumulated revenue of VND9.02 trillion($392.17 million), up 24 per cent on-year, accomplishing 55 per cent of the 2021 target. Of this, Long Chau pharmacy chain contributed a revenue of VND1.34 trillion ($58.26 million), approximately three times higher than in the first half of 2020. Consolidated earnings before tax reached VND76 billion ($3.3 million), 63 per cent of the full-year target.
Online sales in H1/2021 reached VND2.83 trillion ($123 million), increasing 10 per cent on-year and accounting for 31 per cent of FPT Retail's total revenue. With the advantage of being the No.1 retailer in the laptop market and the increasing demand for laptops during the COVID-19 pandemic, the company's laptop sales in H1 reached VND1.33 trillion ($57.83 million), up 31 per cent on-year.
In H1, FPTShop has opened 30 stores to reach a nationwide network of 625 stores. Meanwhile, Long Chau has signed 150 rental contracts, of which 68 stores have began generating revenue, bringing the number of stores in operation to 268.
This year, FPT Retail's Board of Management set the target to achieve a net revenue of VND16.4 trillion ($713 million) and profit of VND120 billion ($5.2 million), up 12 and 320 per cent on-year, respectively. As for the Long Chau pharmacy chain, the company focuses on expanding its scope of operations, increasing market share, and providing drugs at competitive prices, so profit margin is not a top priority. The company expects this chain will incur decreasing losses in 2021 and 2022. It expects the chain to become profitable by 2023.