Business

CJ CGV posts record quarterly operating profit in Vietnam

The Republic of Korea (RoK)’s cinema chain CJ CGV posted a revenue of 59.1 billion KRW (44.8 million USD) and an operating profit of 9.3 billion KRW in Vietnam in the first quarter of this year.
CJ CGV posts record quarterly operating profit in Vietnam ảnh 1Illustrative image (Source: VNA)
Seoul (VNA) – The Republic of Korea (RoK)’scinema chain CJ CGV posted a revenue of 59.1 billion KRW (44.8 million USD) andan operating profit of 9.3 billion KRW in Vietnam in the first quarter of thisyear.

It saw a year-on-year rise of 125.6% in revenue, andadditional 7.1 billion KRW in operating profit.

This is the highest-ever quarterly operating profitthe film distributor reported in Vietnam, even higher than the 2.1 billion KRWrecorded in the first quarter of 2019 before the COVID-19 outbreak had begun.

CJ CGV said it earned operating profits only inVietnam and Turkey where the number stood at 50 million KRW.

It forecast that the business outcomes will be maintainedin the second quarter thanks to the recovery of the film industry and the releaseof many highly anticipated movies.

The Korean entertainment giant, which has been inVietnam since 2011, is running 83 cinemas and 483 screens in the SoutheastAsian nation, making up 51% of the market share.

CJ CGV said it is closely coordinating with the Vietnamesefilm industry, with the 2023 CJ Short Film Making Project being kicked off recently inHo Chi Minh City./.
VNA
#Republic of Korea#CJ CGV#operating profit#film distributor#2023 CJ Short Film Making Project#Vietnam#VietnamPlus#Vietnam news
Follow VietnamPlus

Related News

First Da Nang Asian film festival opens

First Da Nang Asian film festival opens

With the theme “Bring Da Nang to Asia and bring Asia to Da Nang”, the first Da Nang Asian Film Festival opened on May 9 at Trung Vuong Theatre in Da Nang city. The festival is hoped to make the central coastal city become a bridge connecting Vietnam with international cinema.
Vietnamese film to premiere at Cannes

Vietnamese film to premiere at Cannes

Vietnamese movie Ben Trong Vo Ken Vang (Inside The Yellow Cocoon Shell) will have its global premiere at the Directors Fortnight section of the Cannes film festival.

See more

Industrial factories in Tan Uyen city, the southern province of Binh Duong (Photo: VNA)

Investors upbeat about Vietnam’s industrial property market

Investors are bullish on Vietnam's industrial property market growth on the back of the nation's strategic location, sound infrastructure, and increasing demand for industrial space, particularly industrial parks that meet green standards, according to market research.

Vietnamese Ambassador to Belgium and head of the Vietnamese Delegation to the EU Nguyen Van Thao addresses the forum (Photo: VNA)

Forum connects Vietnamese, Belgian busineses

The Vietnam-Belgian business forum took place in Brussels on October 23, offering a chance for enterprises of the two countries to introduce their products and explore new cooperation opportunities.

The expos cover over 6,000 sq.m, drawing over 210 exhibitors from 10 countries and territories. (Photo: VNA)

Hanoi hosts textile & garment, fabric garment accessories expos

The Vietnam Hanoi Textile & Garment Industry and Fabric Garment Accessories Expos 2024 (HanoiTex & HanoiFabric 2024) is taking place in Hanoi on October 23 – 25 as part of a series of international exhibitions on Vietnam's textile and garment industry.

Representatives from Vietnamese and Lao agencies, localities and businesses at the opening ceremony of the Vietnam-Laos trade fair 2024 in Xiengkhouang province. (Photo: VNA)

Vietnam, Laos step up trade, tourism promotion

A Vietnam-Laos trade fair was kicked off in Phonsavanh township in Xiengkhouang province of Laos on October 23 as part of activities to celebrate the 75th anniversary of the traditional day of Vietnamese volunteer soldiers and experts in Laos (October 30, 1949 – 2024).

Illustrative photo (Photo: chinhphu.vn)

Vietnamese goods enter US through global supply chain

The Saigon Co.op Distribution Company Limited (SCD) - a member of the Ho Chi Minh City Union of Trade Cooperatives (Saigon Co.op), and STC Natural Vina Company on October 23 held a hand-over ceremony for goods that will be exported to the US.

Vietnam’s lobsters have clawed their way back onto Chinese menus after a suspension. (Photo: VNA)

Vietnam’s lobsters claw back prominence in China

Vietnam’s lobster export to the Chinese market in January-September rose 33 folds year-on-year on the back of lower prices and stronger trade ties between the two nations, the South China Morning Post said on October 22.