Vietnamese trio report revenue, profit growth for 2015

4 Jan 2016

MobiFone, Vietnam’s second largest mobile network operator by subscribers, generated revenue of VND36.9 trillion (USD1.6 billion) in the twelve months ended 31 December 2015, an increase of 8.3% compared to the previous year. According to the Ministry of Information and Communications (MIC), the wireless operator’s net profit for 2015 grew by 1.1% year-on-year to VND7.4 trillion. MobiFone was separated from state-owned national PTO Vietnam Posts and Telecommunications (VNPT) in July 2014 and put under the management of the MIC, ahead of a sale of shares in the cellco – a process known as ‘equitisation’ – scheduled for later this year. As the owner of third-largest wireless provider Vinaphone, VNPT had been ordered to reorganise its operations under new legislation that states that a company or individual cannot hold over 20% of the shares in more than one telecoms operator. VNPT reported revenue of VND89.1 trillion in 2015, an increase of 7.5% from 2014, and its net profit grew 20% year-on-year to VND3.3 trillion. Meanwhile, the wireless market’s largest mobile operator by subscribers, military-run telecoms group Viettel, reportedly generated revenue of VND222.7 trillion in 2015, up by 13% from the previous year, while its net profit before tax climbed by 8.5% over the twelve-month period, to reach VND45.8 trillion.