Vinasun Taxi loses 2,000 drivers in Q3

Created 26 October 2017
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HCMC – Vinasun Taxi, the nation’s leading taxi firm, lost an extra 2,000 of its drivers in the third quarter after 8,000 quit their jobs in the first half of the year.

Anh Duong Vietnam JSC, the operator of Vinasun Taxi, said in a report on its business performance in the third quarter and the first nine months of 2017 that the number of its drivers had plunged to around 7,300 by last month.

The taxi firm had nearly 9,200 drivers in the first half, far below 17,000 at the end of last year. Therefore, its revenue dipped 54% to VND547.4 billion (US$24.09 million) in the third quarter, way below nearly VND1.2 trillion in the same period last year.

The company made VND58.6 billion in pre-tax profit and VND46.9 billion in after-tax profit last quarter, down nearly haft versus the year-ago period.

In January-September, it posted net revenue of VND2.5 trillion and after-tax profit of VND148.3 billion, down 29% and 39% respectively against the first nine months last year.

Major tax firms in HCMC are also struggling with the increasingly fierce competition, having lost 6,000-10,000 drivers each.

 

Source: Thesaigon Times

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