WinCommerce, the operator of WinMart retail chain, saw its loss tripling from 2021 to VND445 billion ($18.97 million) last year.
Since being acquired by Masan Group from Vingroup in 2019, WinCommerce has not been able to turn a profit.
Its revenues declined 5% to VND29.37 trillion last year. Its equity rose marginally to VND3.98 trillion, and debts were at VND14.32 trillion.
WinCommerce is Vietnam’s biggest retailer in terms of number of outlets. It had 3,268 WinMart+ stores and 130 WinMart supermarkets by the end of December.