Vietnamese bookstore operator Fahasa reported third-quarter after-tax profit of nearly VND20.7 billion, up 28% year on year and its strongest quarterly result since it began publishing financial information, according to VnExpress. Net revenue approached VND1.82 trillion, an increase of more than 19%.
Sales and deposits support earnings
Management attributed the improvement to stronger business at the parent company and consolidated units, alongside effective cost management. Financial revenue reached about VND15 billion, more than double a year earlier, mainly from bank deposits exceeding VND650 billion at September’s end.
For the first nine months, net revenue rose 13.5% to almost VND3.986 trillion. After-tax profit reached VND46.4 billion, an increase of more than 17%.
Store network and expansion plans
Fahasa generates most of its revenue through approximately 150 bookstores, including around 50 in Ho Chi Minh City. Its plans include upgrading existing locations, opening in promising markets and expanding e-commerce.
The annual shareholder meeting set a total-revenue target of VND4.4 trillion and a pre-tax profit target of VND75 billion. Management also outlined plans for youth-oriented products and stronger sales of Vietnamese and foreign-language books, school supplies, toys and gifts.
Assets approached VND2.2 trillion at September’s end, against roughly VND1.6 trillion at the beginning of the year. Inventory increased from around VND870 billion to almost VND1.1 trillion, accounting for more than half of assets. Saigon Culture Corporation was the largest shareholder with 30.5%.
Fahasa began as Ho Chi Minh City’s state book-distribution enterprise in August 1976 and became a joint-stock company in 2006.