Analyst Pin-board: FRT – 9M Result Update
FRT posted a 9M revenue of VND 11,033 bn (+20%) and profit of 227.4 bn (+30%) yoy. The expansion of FPT Shop was quite behind the company’s plan – only opened 51 new stores, compared to 100 for the year’s target. Despite that, the 20% growth in revenue was significant, considering that the main rival – The Gioi Di Dong chain (by MWG), saw its sales only gain 2% during the same period. The difference was mainly from the two installment programs: F.Friends and Subsidy (figure 3). In 9M, F.Friends and Subsidy contributed 5.1% and 4.5% of total sales, respectively.
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