Vinasun reported a profit of more than 22 billion VND in the first quarter of the year, down 58.5% and the lowest level in nearly two years because of implementing support policies for drivers.
Recent financial reports show that Vietnam Sunshine Joint Stock Company (Vinasun – VNS) has revenue of more than 278.6 billion VND, down nearly 15% compared to the same period last year. Among them, passenger transport service by taxi was most affected when revenue decreased by 13%.
Profit in the first quarter of the year reached more than 22 billion VND, down 58.5% over the same period. This is also the company’s lowest profit since the second quarter of 2022.
The management board said that profits were affected when revenue decreased. Besides, Vinasun continues to implement the policy of “additional support for drivers and partners”. This is also the reason given by businesses for previous reports of business results going backwards.
After a period of cutting drivers, this year Vinasun will focus on attracting workers, especially highly skilled people, through a better income division policy. In this way, the taxi company hopes to improve the quality of customer service.
At the same time, investing in new gasoline-electric hybrid vehicles is one of the key tasks of Vinasun taxi company to develop its business activities. This year, Vinasun plans to buy about 700 new cars, mainly focusing on Toyota’s high-end hybrid line. New taxi models will be operated by self-investment or leasing. In addition, the company also wants to research a project to pilot the deployment of three-wheeled electric vehicles.
Although there are many innovative strategies, this taxi company has proposed a backward business plan this year. The revenue target is more than 1,100 billion VND, a decrease of more than 9%. Profit after tax is expected to be more than 80.5 billion VND, only half of the previous year. At the end of the first quarter, they completed a quarter of their revenue target and more than 27% of their profit plan.
The Board of Directors determined that this year is still a period when the company still faces many difficulties in the process of recovery and development. Business operations are also affected by the resilience of the tourism and passenger transport industry, driver support policies and new revenue sharing ratios, competition in the industry, inflation and customer purchasing power. row.