AsemconnectVietnam - Vincom Retail Joint Stock Company (stock code: VRE) announces its consolidated financial statements for the first quarter of 2023 in accordance with Vietnamese accounting standards (VAS).

In the first quarter of 2023, Vincom Retail continued to record an impressive recovery and profit.
Total consolidated net revenue in the first quarter reached VND1,943 billion, up 42% over the same period last year. In which, the business of shopping malls (commercial centers) recorded a revenue of VND1,913 billion, up 54% compared to the same period in 2022. With this result, Vincom Retail recorded VND1,024 billion in consolidated profit after tax in the first quarter, impressive growth at 171% over the same period last year and 23% compared to the fourth quarter of 2022.
In the first quarter of 2023, events to celebrate the Lunar New Year, Valentine's Day and International Women's Day took place simultaneously across the entire Vincom Retail shopping mall system. In the bustling atmosphere of Valentine's Day 2023, Vincom is an "all-in-one" destination for couples to enjoy a romantic date space with many exciting culinary and entertainment experiences. Vincom Retail also organized a series of Love Day activities at Vincom shopping centers on the occasion of International Women's Day on March 8, bringing a sweet, romantic space with exclusive and unexpected gifts for "half of the world".
Also on this occasion of March 8, Vincom brought a real-time interactive technology experience with the challenge of "Emotional frames" on giant curved LED screens at Vincom Mega Mall Smart City and Vincom Mega Mall Ocean Park.
Understanding the psychology of women who like to keep beautiful moments, Vincom also offers girls who come to shopping centers the opportunity to print photos directly and receive sweet handwritten wishes, keep happy memories with boxes. Exclusive Memory Keeper gift from Vincom.
Overview in 2023, in the context of the world's situation with many unpredictable fluctuations, although Vietnam's economy cannot avoid being affected, it is still forecasted to be in the leading group in the region.
In 2023, Vincom will also maintain its pioneering position in the market, in which it is expected to open two new shopping centers, Vincom Mega Mall Grand Park in Ho Chi Minh City and Vincom Plaza Ha Giang, bringing the total number of shopping malls to 85 shopping malls in 45/63 provinces and cities across the country. At the same time, Vincom Retail will focus on upgrading the positioning and improving the exploitation efficiency of the shopping centers in operation.
The focus of the business plan lies in continuing to accompany strategic tenants to expand coverage in potential cities and provinces, as well as promoting the expansion of the network of new tenants, focusing on exploiting the brand name. Potential brands are being loved in countries in the region and Asia to bring new international brands to Vietnam for the first time.
Optimized initiatives, applying technology in management and operation will be continuously researched and implemented, in order to maintain and continue to improve profit margins, affirming the impressive business performance of Vincom Retail, leading in Vietnam and in the region.
N.Nga
Source: VITIC/Tinnhanhchungkhoan