Profits of traditional lottery businesses plummeted

An Giang Lottery One Member Limited Liability Company in 2021 only achieved revenue of more than VND 3,300 billion, profit after tax of VND 344 billion, down 25% and nearly 44% respectively over the same period last year. Management costs and bonuses decreased, but revenue and profit of this business plummeted.

Thiet Long An Lottery One Member Co., Ltd. last year only achieved 2,861 billion VND in revenue, 433 billion VND in profit, completing 70% of the plan.

Similarly, at Hau Giang Lottery One Member Limited Liability Company, last year’s business activity also declined significantly. Total revenue for the whole year reached 2,349 billion dong, after-tax profit was 175 billion dong, down more than 19% and nearly 27% respectively over the same period in 2020.

Other lottery companies such as Dong Nai, Dong Thap, Ho Chi Minh City, and Ben Tre have not yet fully released their 2021 financial statements, but most of these groups also recorded a decrease in revenue and profit compared to the same period last year. 2020.

Explaining the reason for the decline in business results, business leaders all said that it was due to the general impact of the epidemic.

According to the leadership of An Giang Lottery One Member Limited Liability Company, in 2021, the directives on social distancing will cause many business activities of enterprises to close. Lottery companies in the South had to stop issuing 15 times, so revenue dropped sharply.

The impact of the epidemic is also the reason given by the leadership of Thiet Long An Lottery One Member Company Limited when the company’s operation results are in trouble. According to this enterprise, although all employees of the company have made great efforts, activities have stalled when the epidemic spread, while the increased cost of disease prevention has dragged down the company’s profits.

This year, the epidemic has not ended but the southern provinces and Ho Chi Minh City have reopened, so the business forecast will be brighter. Especially when tourism activities have returned to normal, the business situation of food and beverage establishments has begun to recover.

Therefore, lottery companies expect large revenue and profit growth in 2022. In which, An Giang Lottery sets a revenue target of VND 5,411 billion, profit after tax of VND 530 billion, an increase. This year, Hau Giang Lottery Company expects to achieve a revenue of VND 2,979 billion, profit after tax of VND 220 billion, an increase of 19-25% over the same period….

Thi Ha