Vincom Retail earns nearly $692,000 a day in Q2

July 30, 2026 | 12:42

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Higher shopping mall leasing revenue and stronger financial income helped Vincom Retail post a net profit of nearly $62 million in the second quarter, up 30 per cent on-year.

Photo: Vincom Retail

On July 29, Vincom Retail released its consolidated financial statements for the second quarter, reporting net revenue of approximately $91 million, up 11 per cent on-year.

Revenue from shopping mall leasing and related services reached around $87.2 million, an increase of 10 per cent on-year. The growth was driven by an improvement in the occupancy rate, which rose 2.3 percentage points to 88.6 per cent at the end of the second quarter, a slight increase in average rental rates across the portfolio, and contributions from shopping centres opened in the second half of 2025.

Excluding the performance of Vincom Center Nguyen Chi Thanh, leasing and related service revenue increased 11.5 per cent on-year during the quarter.

In addition to its core business, financial income remained a key earnings driver. Financial revenue rose 25 per cent on-year to approximately $32.5 million in the second quarter, bringing the total for the first six months of 2026 to around $65 million.

The largest contributor to financial income was interest earned from deposits, loans, and deposits paid, totalling approximately $32.7 million during the quarter. Meanwhile, financial expenses declined 18 per cent to around $8.5 million, including interest expenses of approximately $7.7 million.

After accounting for expenses and taxes, Vincom Retail posted net profit of approximately $61.9 million in the second quarter, up 30 per cent compared to a year earlier.

The company said its adjusted consolidated net revenue, calculated by adding pro forma revenue from the transfer of investment property recorded in the first quarter to reported net revenue, and first-half after-tax profit had respectively fulfilled 49 per cent and 58 per cent of its full-year 2026 targets.

Part of the Vingroup ecosystem, Vincom Retail operates the country’s largest shopping mall network, comprising 90 shopping centres across 31 provinces and cities with a total gross floor area of nearly 1.91 million square metres.

For 2026, the company targets revenue of approximately $390 million and after-tax profit of around $207 million.

According to the company, Vincom shopping centres welcomed 112 million visitors in the first half of the year, while its commercial streets attracted 4.2 million visitors, representing on-year increases of 11.6 per cent and 16.3 per cent, respectively.

In the third quarter, Vincom Retail plans to continue expanding its network with the opening of Vincom Plaza Dan Phuong, which is scheduled to commence operations in August.