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Viettel Post (VTP): Pre-tax profit in Q3/2023 increased by 82%, reaching VND128 billion 

 Monday, November 6,2023

AsemconnectVietnam - Viettel Post Joint Stock Corporation (Viettel Post, code VTP – UPCoM) has just announced business results for the third quarter of 2023 with revenue reaching VND4,829 billion, fulfilling 104.2% of the quarterly plan; Pre-tax profit reached VND128 billion, an increase of 82% over the same period last year.

Regarding revenue structure, the Postal sector (including delivery and logistics) alone recorded revenue growth of 39% over the same period in the third quarter of 2023, up 7% compared to the quarterly plan and up 11.5% compared to the previous quarter.
Accumulated in the first 9 months of 2023, Viettel Post achieved revenue of VND14,590 billion, fulfilling 107.7% of the 9-month plan and reaching approximately 80% of the year plan.
To date, Viettel Post's highest output has reached nearly 750,000 orders/day. The business is sticking to its goal of reaching 1 million orders/day by December 2023.
In the third quarter of 2023, Viettel Post promotes business in core areas that bring high profits such as delivery, logistics, supply chain... This is the reason why pre-tax profit reached a growth rate of up to 82% compared to same period and the highest profit of the year.
In 2023, Viettel Post narrows some low-profit areas (telecommunications, commerce), focusing on core areas with high profit margins (delivery & logistics). Many new fields are also put into operation such as providing complete supply chain solutions, cross-border e-commerce, transportation, forwarding... Viettel Post's goal is to gradually transform itself into a modern logistics enterprise based on high technology platform, meeting diverse customer needs.
Viettel Post has just put into operation Operation Center 5 in Quang Minh Industrial Park with the application of the most modern sorting technology today.
Recently, Viettel Post submitted documents to list VTP shares on HOSE. It is expected that the exchange will be approved in the fourth quarter of 2023 and investors can start trading VTP shares on HOSE in the first quarter of 2024.
Since the beginning of 2023, VTP stock price has grown nearly 60% and is considered one of the potential stocks in the delivery and logistics field.
With 3 consecutive quarters of exceeding planned targets, Viettel Post said it believes in its ability to complete business goals in 2023. Regarding business orientation for 2024, the business will continue to promote business in new fields, applying modern technology in all stages to help improve service quality and user experience, increase operational efficiency and productivity.
N.Nga
Source: VITIC/Tinnhanhchungkhoan
 

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