Postal giants see mixed performance in first half of 2024

A Viettel Post employee operates automated equipment at its plant. — VNA/VNS Photo

HÀ NỘI — 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 VNĐ33.79 trillion (US$1.3 billion), up 22 per cent year-on-year, according to a report from the Ministry of Information and Communications.

The achievement represents 52.1 per cent of the total 2024 target.

The sector is anticipated to contribute VNĐ2.5 trillion to the state budget, showcasing a 10 per cent gain from the same period in 2023 and achieving 41.7 per cent of the 2024 plan.

The report also revealed that VNPost is on track to achieve an estimated revenue of over VNĐ7 trillion during the first half of 2024. The figure corresponds to 39.5 per cent of the annual target and an impressive 100.5 per cent growth compared to the same period in 2023.

VNPost is expected to see a profit before tax of VNĐ268.3 billion, meeting half of the annual target and demonstrating a substantial 103.5 per cent increase over last year. Projected contributions to the state budget are set at VNĐ384 billion, equal to 45.4 per cent of the annual goal and marking a 97 per cent rise from the previous year.

Meanwhile, Viettel Post’s combined revenue for the first six months of the year soared to more than VNĐ9.6 trillion, equivalent to 158.7 per cent of the yearly plan. The full-year revenue outlook sits at nearly VNĐ19.6 trillion.

After six months, Viettel Post’s profit before tax stands at VNĐ190.5 billion, achieving 103 per cent of the target. The estimated annual profit is projected to reach VNĐ486.1 billion VND, representing 101.1 per cent of the annual plan.

The company’s contributions to the budget is expected at VNĐ366.8 billion 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 VNĐ7.5 trillion.

Within the target, postal service revenue is projected to reach VNĐ5.2 trillion, with a profit before tax target of VNĐ295.59 billion. Its expected budget contribution is VNĐ318.3 billion.

On the contrary, in the first half of 2024, Giaohangtietkiem JSC is projected to yield a total revenue of VNĐ3.4 trillion, down 17 per cent from the same period last year. The anticipated state budget contribution is VNĐ464 billion VND, reflecting a 3.3 per cent decrease from last year. — VNS