Postal giants see mixed performance in first half of 2024

A Viettel Post employee operates automated equipment at its plant (Photo: VNA)

Hanoi (VNS/VNA) - Postal companies are expected to see mixed revenue results in the first half of 2024, amid the strong growth of the e-commerce industry.

Since the beginning of the year revenue from the service is projected to hit 33.79 trillion VND (1.3 billion USD), up 22% year-on-year, according to a report from the Ministry of Information and Communications.

The achievement represents 52.1% of the total 2024 target.

The sector is anticipated to contribute 2.5 trillion VND to the state budget, showcasing a 10% gain from the same period in 2023 and achieving 41.7% of the 2024 plan.

The report also revealed that VNPost is on track to achieve an estimated revenue of over 7 trillion VND during the first half of 2024. The figure corresponds to 39.5% of the annual target and an impressive 100.5% growth compared to the same period in 2023.

VNPost is expected to see a profit before tax of 268.3 billion VND, meeting half of the annual target and demonstrating a substantial 103.5% increase over last year. Projected contributions to the state budget are set at 384 billion VND, equal to 45.4% of the annual goal and marking a 97% rise from the previous year.

Meanwhile, Viettel Post’s combined revenue for the first six months of the year soared to more than 9.6 trillion VND, equivalent to 158.7% of the yearly plan. The full-year revenue outlook sits at nearly 19.6 trillion VND.

After six months, Viettel Post's profit before tax stands at 190.5 billion VND, achieving 103% of the target. The estimated annual profit is projected to reach 486.1 billion VND, representing 101.1% of the annual plan.

The company's contribution to the budget is expected at 366.8 billion VND in the first half and are forecasted to reach 685.1 billion by year-end.

Looking ahead to the year's end, Viettel Post has outlined ambitious goals, aiming for a total consolidated revenue of 7.5 trillion VND.

Within the target, postal service revenue is projected to reach 5.2 trillion VND, with a profit before tax target of VNĐ295.59 billion. Its expected budget contribution is 318.3 billion VND.

On the contrary, in the first half of 2024, Giaohangtietkiem JSC is projected to yield a total revenue of 3.4 trillion VND, down 17% from the same period last year. The anticipated state budget contribution is 464 billion VND, reflecting a 3.3% decrease from last year./.

VNA