Vincom Retail stock in focus after nine-month profit growth
Published on 11/01/2026 at 01:38 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSProfit growth strengthens 2026 outlook
- Vincom Retail's nine-month revenue increased as leasing and related services remained the main operating driver.
- Vincom Plaza Dan Phuong opened at full occupancy and added to the company's nationwide retail network.
- Higher shopping mall footfall supports the operator's expansion and tenant strategy.
Vincom Retail reported stronger earnings for the first nine months of 2026 on October 29, according to Vietnam.vn. Net profit after tax rose 25.1 percent year on year to VND 4,737 billion, while consolidated net revenue increased 7.9 percent to VND 7,041 billion.
Leasing drives quarterly growth
In the third quarter, consolidated net revenue reached VND 2,374 billion, up 5.5 percent from the same period in 2025. Revenue from leasing and related services increased 7.6 percent to VND 2,285 billion, while quarterly net profit after tax rose 10.6 percent to VND 1,522 billion.
The comparison also contains a significant base effect. Excluding extraordinary income recorded in other income in the third quarter of 2025, the company said quarterly net profit growth would have been 25.6 percent.
Expansion adds operating capacity
Vincom Retail opened Vincom Plaza Dan Phuong in the third quarter. The shopping mall reached full occupancy and attracted an average of about 25,000 visitors a day during its first three days, adding a new retail destination in western Hanoi.
For the first nine months, shopping malls welcomed 171.1 million visitors, an increase of 8.5 percent year on year. Commercial streets attracted 20.4 million visitors, up 14.5 percent, pointing to stronger traffic across both parts of the platform.
Business model and market position
Vincom Retail develops, operates and manages shopping malls in Vietnam, with formats including Vincom Center, Vincom Mega Mall, Vincom Plaza and Vincom+. Its revenue comes mainly from rental and related services, while commercial streets and shophouse projects provide additional real estate activities. In its 2024 annual report, the company describes itself as a leading Vietnamese retail real estate developer and operator, with a network spanning major cities and provinces.
Vincom Retail at a glance
- Company: Vincom Retail Joint Stock Company
- Ticker: VRE
- Exchange: Ho Chi Minh City Stock Exchange
- Home market: Vietnam
- Business: Shopping mall development and operations, commercial streets and related real estate activities
For investors, the results combine higher recurring leasing revenue with continued expansion of the retail network. The effect of non-recurring income in the prior-year comparison remains relevant when assessing the underlying pace of profit growth.
Vietnam's market backdrop and broader regional sentiment can be followed through current market reports.
The next focus is whether visitor growth, occupancy and leasing income can support Vincom Retail's full-year 2026 business plan after the strong nine-month performance.
