FPT Retail achieved VND 4,093 billion of turnover, VND 37 billion of revenue in the first quarter of 2020
Despite in a period where FRT is focusing on strong investment in Long Chau pharmacy chain while being affected by Covid-19 epidemic, FRT still gains some impressive results in the first quarter of 2020.
In the first quarter of 2020, FPT Retail (FRT) reached VND 4,093 billion in turnover, down 3% compared to the last quarter of 2019. Its profits before tax reached VND 47 billion, which was VND 61 billion more than that in the last quarter of 2019. In that, Long Chau’s turnover reached VND 239 billion, up 20% compared to the last quarter of 2019, which was 2.5 times more than that of the same period in 2019.
FRT said that they will continue to focus on promoting online sales, especially during Covid-19 epidemic period. The online turnover in the first quarter of 2020 reached VND 1,107 billion, up 20% compared to the fourth quarter of 2019, accounting for 27% of FRT’s total turnover.
The total assets calculated until the end of the first quarter were VND 6,046 billion, in which the inventories accounted for more than VND 3,011 billion, down 10% compared to that of the beginning of the year. Cash, cash equivalents and short-term deposits were VND 1,378 billion, equivalent to that at the start of the year. Short-term loans were VND 3,814 billion, equivalent to 63% of the capital source. There were no long-term loans.
When the first quarter of 2020 ends, FRT had 603 FPT Shop stores in total. There were 83 Long Chau stores spreading across 19 provinces and cities with 13 new stores compared to the end of 2019. Currently, Long Chau has decided on 40 locations to open new stores in the second quarter of 2020.
FPT Digital Retail Joint Stock Company intended to hold the annual General Meeting of Shareholder on 20 March 2020. However, due to the complicated situation of Covid-19 epidemic and in order to ensure the health and benefits for the shareholders, also implementing the Ministry of Health’s recommendation of limiting crowded gatherings, the Board of Management of FRT decided to postpone the General Meeting of Shareholder until 28 May 2020.
It is expected that the General Meeting of Shareholder will be held under offline and online meeting.
According to Anh Duong, Cafebiz
Published April 29, 2020