Fahasa Bookstore records profits

According to the consolidated financial report for the fourth quarter of 2024, Ho Chi Minh City Book Distribution Joint Stock Company (Fahasa - FHS) had a full-year revenue of more than VND 4,039 billion, an increase of 2.4% over the previous year. This is the highest level since they announced information in 2013.

The slight increase in cost of goods sold helped Fahasa's gross profit improve by more than 6%, to nearly VND1,044 billion. Financial revenue was also 6% higher than the same period last year, reaching more than VND28 billion, mainly from interest on deposits.

The group of regular expenses all increased slightly. Fahasa mainly spent on sales expenses with nearly 896.5 billion VND. The company said no to financial debt.

In total, the company recorded more than VND72.5 billion in pre-tax profit. After deducting the above obligation, Fahasa earned nearly VND58 billion. This figure only increased by nearly 2% compared to 2023 but is the highest level since they announced the information. The company exceeded about VND39.5 billion in revenue target and VND2.5 billion in profit plan.

Previously, Fahasa's board of directors predicted that the market situation in 2024 would be difficult. Their strategy is to open new, modern, large-scale bookstores in potential areas and renovate existing stores. The company also aims to exploit new products to keep up with youth trends, promoting business in the fields of books, stationery, school supplies, toys, gifts, etc.

The chain also focuses on training and standardizing the customer service style of its bookstore staff. The management believes this is one of the strengths that characterizes their brand.

Fahasa was founded in 1976 as a state-owned book publishing company and was equitized 30 years later. At the end of 2020, the company had 115 bookstores in 46 provinces and cities. Then they had a period of contraction when profits were at a record low in 2021. Currently, the number of bookstores in this chain has increased to 107 nationwide.

Fahasa's total assets reached more than VND1,497 billion by the end of last year, an increase of more than 5%. The company has nearly VND472 billion in bank deposits and more than VND3.5 billion in cash.

Last year, they opened 6 more bookstores including Hung Vuong, Ba Thang Hai, Dong Sai Gon (Ho Chi Minh City), Hong Bang (Hai Phong), Ca Mau and Tran Duy Hung (Hanoi). The branches all have an area of ​​hundreds to thousands of square meters. The largest is Fahasa Hong Bang, displaying more than 100,000 copies of national and foreign books of all kinds, 25,000 items of stationery, school supplies, children's toys, souvenirs and gifts.