Viettel Global Q3 profit grows 7%

12 Nov 2018

Vietnam's Viettel Global has reported an 7% increase in profit to 1.34 trillion dong ($57.4 million) for the third quarter of 2018, as a result of strong performance at its Burundi and Haiti divisions.

Revenue from the two markets grew 14% and 26% respectively, contributing to a 5% increase in Viettel Global's total profit for the quarter to 4.43 trillion dong, Viet Nam Newsreported.

Viettel Global is the international division of Vietnamese military-run operator Viettel, with operations in 11 markets – Vietnam, Myanmar, Cambodia, Laos, East Timor, Haiti, Peru, Mozambique, Cameroon, Burundi and Tanzania.

Despite the third quarter growth, the operator reported a swing to a net loss of 812 billion dong for the first nine months of the year as a result of losses at its new Myanmar joint venture MyTel, which has yet to break even.

Viettel aims to break even within the first two to two and a half years of MyTel's operations. The venture launched services in June last year.

As part of its growth plan for 2018-2020 Viettel Global has set an ambitious goal of expanding to reach a global population of between 400 million to 500 million and becoming one of the world's top 10 operators. The operator already has around 100 million subscribers worldwide.

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