MWG - Q2 results hurt by COVID-19, in line with our expectations - Earnings Flash
  • 2020-07-30T23:25:14
  • Company Research
MWG announced H1 2020 results, in which net revenue advanced 8% YoY to VND56tn (USD2.4bn) and NPAT slid 4% YoY to VND2tn (USD87mn). For Q2 2020, revenue slid 1% YoY to VND26tn (USD1.1bn) while NPAT dropped 17% YoY to VND894bn (USD38mn). In Q2 2020, aggregate revenue of TGDD (mobile phone chain) and DMX (consumer electronics chain) slumped 12% YoY amid COVID-19’s disruptions — especially in April when MWG had to temporarily close around 30% of these two chains’ total store count. Meanwhile, BH