According to the consolidated first quarter financial statement of
Viettel Global, the firm earned VND13.9 billion ($603,319) in pre-tax
profit, instead reporting a loss of VND139 billion ($6.03 million)
on-year.
The increase of 42 per cent in gross profit is the major factor
offsetting the light decrease in its net revenue from sales and
services.
The company also reports VND904 billion ($39.23 million) in gross
profit and it also saw financial revenue soar to VND550 billion ($23.87
million) from VND139.5 billion ($6.05 million). Besides, it acquired
over VND32 billion ($1.38 million) in net profit from trading
operations.
| Viettel Global plans to increase
charter capital to VND30.34 trillion ($1.31 billion) by issuing 800
million common shares at the price of VND10,000, equalling VND8 trillion
($347.2 million). |
The increase in cash flows was another highlight in the financial
statement. Notably, in the first three months of this year, net cash
flows reached VND685 billion ($29.8 million), far higher than the VND5
billion ($217,021) a year ago. The net cash flow contributed to
offsetting investment expenditures, as a result of which positive net
cash flows reached VND40 billion ($1.73 million).
To date, Viettel Global owns a charter capital of VND22.43 trillion
($973.55 million). The recent annual shareholders’ meeting approved the
plan to increase Viettel Group’s charter capital to VND30.34 trillion
($1.31 billion) by issuing 800 million common shares at a price of
VND10,000 apiece, equalling VND8 trillion ($347.2 million).
The proceeds from the share sale will be used to investment in
Viettel Global’s projects until 2020. These share volume will not be
transferable within one year of the sale.
To date, Viettel Global has investments in nine overseas markets,
seven of which are operating in profit, including Cambodia, Laos, Timor
Leste, Mozambique, Burundi, Haiti, and Cameroon. Viettel Global has the
largest market share of the telecommunications sectors in Laos,
Cambodia, and Timor Leste.
Viettel Global has yet to make profit from Myanmar and Tanzania
because it started operations in these two market less than three years
ago. However, in Myanmar alone, it signed up one million subscribers 10
days after it was launched.
Viettel Global plans to list on the Unlisted Public Company Market (UpCOM) in July.
By Ha Vy (www.vir.com.vn)