MobiFone FY turnover up 31.5%

27 Jan 2011

Vietnamese mobile operator MobiFone has announced its revenue for the year ended 31 December 2010 increased 31.5% year-on-year to VND36.03 trillion (USD1.8 billion), Vietnam Investment Review reports. The figure represents around 35% of the total 2010 revenue of parent Vietnam Posts and Telecommunications (VNPT), the country’s state-owned incumbent fixed line operator. MobiFone reportedly earned pre-tax profit of VND5.8 trillion, a year-on-year increase of 6% compared to 2009, and corresponded to 52.3% of VNPT’s pre-tax profit for 2010. The company said it signed up a total of 5.95 million new mobile subscribers in the twelve-month period, bringing its total customer base to around 35 million at end-2010, according to TeleGeography’s GlobalComms Database. MobiFone’s deputy director, Nguyen Dinh Chien, said the operator aims to sign up a further five million mobile subscribers in 2011, and targets revenue of VND39 trillion and pre-tax profit of VND6.1 trillion. ‘The strict competition makes us well prepared to boost our sales through distribution channels right from the beginning of this year,’ Chien noted.

Vietnam, MobiFone Telecommunications Corporation