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

Total consolidated net revenue in the second quarter was VND2,173 billion, up 17% over the same period last year. In which, the business of commercial centers (commercial centers) recorded a revenue of VND1,943 billion, up 7% over the same period in 2022. With this result, Vincom Retail recorded VND1,001 billion of consolidated profit after tax in the second quarter, an increase of more than 29% over the same period last year.
In the first 6 months of 2023, net revenue reached VND4,116 billion, profit after tax reached VND2,025 billion, up 28% and 76% respectively over the same period. Net profit margin from commercial center leasing in 6 months reached 76%, an increase of 4 percentage points over the same period last year, a result of revenue growth as well as a firm cost structure, active and efficient operating apparatus.
In the context of the retail real estate market's scarcity of new quality supplies, Vincom Retail continues to improve the operational efficiency of its existing assets, including 83 shopping centers located in central locations across 44 provinces of Vietnam.
In addition, the factors: brand reputation, modern shopping mall model located in a prime location with a professional operation management team and always keeping ahead of the trend continue to be the foundation for Vincom Retail to receive the attention of customers, partners and consumers. Nike has chosen Vincom Center Ba Trieu (Hanoi) as the destination to launch the first new store model in Vietnam.
LUSH - a famous handmade cosmetic brand from the UK also officially launched to Vietnamese consumers with the first store opening at Vincom Center Dong Khoi (HCMC).
In the second quarter of 2023, Vincom was honored at the Asia Pacific Property Awards (APPA) 2023, the most prestigious and prestigious award in the region.
Accordingly, Vincom Mega Mall Smart City excellently won first place in 2 award categories: Best Trade Center in Vietnam and Best Marketing Campaign to develop shopping mall in Vietnam, and was also represented the region at the international level award in December 2023.
The new generation Life-Design Mall model Vincom Mega Mall Smart City was also honored with the highest honor in the category of Retail Initiative of the Year - Vietnam market at the Retail Asia Awards by Retail Asia magazine. Vincom Mega Mall Ocean Park also excellently won the Trade Center of the Year award - Vietnam market voted by Retail Asia.
Besides, Vincom also creatively deploys marketing programs, stimulates shopping, so that the system of 83 shopping centers nationwide is always a place to experience "top of mind" with consumers. Accordingly, the festival "Inspiring Charge, Come to Vincom" and Vincom's "Special" Red Shopping Week officially return from June 17 to July 2, with a huge discount of 50%++, applicable at more than 2,700 discount booths throughout the system, attracting hundreds of thousands of visitors to entertainment and shopping during 3 exciting summer months.
With the results achieved in the first 6 months of 2023, Vincom Retail will continue to optimize its operating model, search for and research new consumer trends to maintain its position as a leading real estate developer for retailer in Vietnam and the region.
N.Nga
Source: VITIC/Tinnhanhchungkhoan