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Vincom Retail Joint Stock Company (ticker VRE) reported its consolidated Q1 2026 financial statements on 24 April, posting adjusted consolidated net revenue of VND 2,574 billion, up 20.7% year on year.
Revenue from leasing activities and related services reached VND 2,208 billion, up 9.0% year on year. The company said the result was supported by continued occupancy improvements across its shopping mall network, driven by demand from both international and domestic brands, as well as contributions from shopping centers newly opened in 2025.
Excluding the operating result of Vincom Center Nguyen Chi Thanh, Vincom Retail said growth in rental income and related services would have been 11.8% year on year.
Net profit after tax rose to VND 1.606 trillion, up 36.4% year on year. With these results, adjusted consolidated revenue and net profit after tax reached 25% and nearly 30% of the 2026 business plan, respectively.
Vincom Retail said it continues upgrading its product mix and customer experience across its destinations. In Q1 2026, experiential segments—including F&B and entertainment—continued to account for a large share of total new leasing area, with experiential activities described as a key driver for attracting customers.
During the period, the company organized nearly 3,000 events at shopping malls and more than 270 events at the commercial street. It said these activities helped lift mall footfall to about 55 million visits, up 13.2% year on year, while foot traffic at the commercial street reached 6.4 million visits, up 15.9% year on year.
Almost one-third of total new leasing area in Q1 2026 was occupied by new brands, reflecting Vincom’s appeal to retailers looking to expand their presence in Vietnam.
The system-wide occupancy rate in Q1 2026 stood at 88.9%, up 2.8 percentage points year on year.
In 2026, Vincom Retail plans to expand its network with new flagship projects, including Vincom Plaza Dan Phuong expected to open in Q3 2026 and the J-Town My Lam commercial street in Tuyen Quang expected to open in Q4 2026. The company said the new projects are expected to further strengthen its leading position in Vietnam in terms of scale, coverage, and the quality of retail destinations.
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