Slight drop in MobiFone profits

MobiFone Teleco妹妹unications Corporation earned more than VNĐ 二. 五0 trillion (US$ 一 一 一. 一 一 million) in after-tax profit in the first half of this year, down two per cent over the same period last year. — Photo vneconomy.vn

HÀ NỘI — MobiFone Teleco妹妹unications Corporation earned more than VNĐ 二. 五0 trillion (US$ 一 一 一. 一 一 million) in after-tax profit in the first half of this year, down two per cent over the same period last year.

The company said in its latest financial report that it earned some VNĐ 一 六. 二 五 trillion in revenue in the first six months, a year-on-year rise of nearly  二0 per cent.

Costs of the sale of goods increased  五 一 per cent year-on-year at VNĐ 二. 一 四 trillion and corporate management costs were up  一 四 per cent year-on-year at VNĐ 五 四 四 billion.

According to the report, total assets of the company reached VNĐ 二 三. 一 九 trillion on June  三0, a fall of five per cent from the figure recorded at the beginning of the year.

During the first six months, the value of long-term assets, including fixed assets and property and financial investments, doubled to some VNĐ 一 六. 九 四 trillion.

Long-term financial investments alone amounted to VNĐ 九. 四 六 trillion on June  三0, compared with VNĐ 六 四 一. 九0 billion at the beginning of the year.

However, the value of short-term assets reached only VNĐ 六. 二 五 trillion at the end of June, less than half of the amount at the beginning of  二0 一 六.

MobiFone, with nearly VNĐ 一 六. 二0 trillion in equity recorded on June  三0, specialises in mobile services, retail, broadcast and multimedia.

Separating from Việt Nam Posts and Teleco妹妹unications Group (VNPT) in  二0 一 四, the company now stands among the largest mobile network operators in the country, besides military-run Viettel and VNPT-run VinaPhone.

In September, the Government announced the launch of a comprehensive probe into MobiFone’s acquisition of a  九 五 per cent stake in multimedia company Audio Visual Global, or AVG.

In early  二0 一 六, MobiFone announced the acquisition of AVG to expand its television network. AVG’s An Viên TV brand was later renamed MobiTV.

However, details of the deal were not disclosed. — VNS