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MWG said its An Khang pharmacy chain is close to break-even following restructuring and could contribute profits after about eight years of the company’s involvement in the pharmaceutical retail segment.
At an investor meeting held last weekend, MWG CEO Vu Đăng Linh said An Khang is near break-even after restructuring. Management targets 2026 as the first year the chain will be profitable and enter a faster growth phase.
Linh said An Khang has closed underperforming stores to improve average revenue per store. He noted that about 55% of revenue comes from medicines, with the remainder from non-pharmaceutical items, including functional foods and health-care devices. The chain has also adjusted its product mix, optimized display space, and controlled operating costs.
Last year, An Khang earned VND 2,200 billion, slightly lower than the year before, largely because the average number of stores was about 100 fewer. Average revenue per store was about VND 550 million per month, up 17% year-on-year. Management said the figures “evidence the improvement in the ability to extract revenue from each store.”
Despite the revenue improvement, the chain still posted a loss of VND 111 billion after expenses. Over the four most recent quarters, An Khang has lost more than VND 1,100 billion in total.
Earlier this year, management said the company planned to open around 100 new pharmacies. However, Linh said An Khang will expand cautiously and selectively as operations have stabilized.
The company is prioritizing revenue growth and per-store cost control over aggressive expansion. Revenue this year is expected to rise about 30%.
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