AsemconnectVietnam - Mobile World Investment Corporation (code MWG – HoSE) sets a revenue target of VND135,000 billion, up 1% and profit of VND4,200 billion, up 2% in 2023.

Mobile World has just released the document of the 2023 Annual General Meeting of Shareholders, which is scheduled to be held on April 8, 2023 in Ho Chi Minh City.
In 2023, Mobile World sets a business plan with revenue of VND135,000 billion, up 1% over the same period and expected profit after tax of VND4,200 billion, up 2% compared to the implementation in 2022 (assumption) purchasing power will recover positively from the third quarter of 2023).
The company shared, according to preliminary records in the first months of the year, the purchasing power of phones and electronics is falling more sharply than expected of the Company. In particular, the cautious sentiment and delay in spending decisions for durable and high-value products are taking place even for the middle and high-end customer group due to the decline in consumer confidence in the face of challenges of the economy. Meanwhile, customers with needs in the low-income segment have more difficulty in accessing consumer loans through the form of installment purchase.
For essential goods such as food, FMCG and pharmaceuticals, the trend of saving and cutting consumer spending also occurs by buying products with the same use at lower prices.
Moreover, after the restructuring, Bach Hoa Xanh retail chain is showing more persistent signals during the difficult market period, continuing to set a plan to increase double-digit revenue and strive to reach breakeven point by the end of 2023.
For An Khang drugstore chain and AVAKids retail store chain of mother & baby products, the Company will suspend expansion and only keep stores with positive profits. In which, in 2023, the chain will increase revenue per point of sale, strictly control operating costs to improve business efficiency and reduce losses.
Notably, the Company said that if the cash flow situation allows and the stock price is attractive, the Company plans to buy back treasury shares to reduce the number of outstanding shares. On the contrary, if the cash flow situation does not allow and the stock price is not attractive enough, the Company will not buy back treasury shares.
N.Nga
Source: VITIC/Tinnhanhchungkhoan