FPT Long Chau will accelerate opening 400 new pharmacies in 2023

Reporting at the 2023 Annual General Meeting of Shareholders, Chairman of the Board of Directors of FPT Digital Retail Joint Stock Company (FPT Retail) Nguyen Bach Diep shared that this year, the company will focus on the FPT Long Chau pharmacy chain with the goal of opening 400 new stores, increasing the total number of stores in the chain to 1,400 - 1,500.

In 2022, FPT Long Chau pharmacy chain recorded revenue of VND 9,596 billion, an increase of 141% over the same period. The pharmacy chain made a profit of VND 52 billion, an increase of more than 10 times compared to VND 5 billion in 2021.

FPT Retail will accelerate the opening of at least 400 new Long Chau pharmacies in 2023.

According to the 2023 plan, the company expects the pharmacy chain to bring in 14,000 billion VND. In parallel with system development and operation optimization, FPT Long Chau will continuously recruit, train, and improve the professional capacity and service skills of the pharmacist team to bring trust and the most dedicated service to customers...

However, FPT Retail leaders also said that although pharmaceuticals are an essential commodity group, they are still expected to be affected because customers tend to tighten their spending. In 2023, the company's business activities are expected to continue to be seriously affected by unfavorable factors such as a sharp decline in purchasing power of ICT products, continuously increasing financial costs, high inflation, and a continued decline in the installment purchase market. This situation will continue to pose great challenges, especially for the FPT Shop chain when purchasing power has decreased sharply and it is difficult to predict the recovery time.

Shareholders unanimously approved the 2023 revenue plan of VND 34,000 billion, an increase of 13%, and pre-tax profit of VND 240 billion, a decrease of 51% compared to the 2022 results. The business plan was set by FPT Retail in the context of numerous difficulties and instability of the current market and based on the expectation that the economy will gradually begin to recover in the last 2 quarters of the year.

FPT Retail will pay 2022 cash dividends at a rate of 5% (equivalent to 500 VND per share) and pay stock dividends at a rate of 15% (shareholders owning 1 share will receive 1 right to receive shares and for every 20 rights, they will receive 3 new shares). In addition, FPT has a policy of paying cash dividends of up to 10% (1,000 VND/share) for 2023, the specific cash dividend level for the whole year of 2023 will be decided by the 2024 Annual General Meeting of Shareholders...

Source: https://thanhnien.vn/fpt-long-chau-se-tang-toc-mo-moi-them-400-nha-thuoc-trong-2023-185230415163850704.htm