Can Tho Lottery Company: Efforts to Overcome Hardship and Share with the Society

9:51:36 AM | 28/9/2020

More than 10 years after being transformed into a one-member limited company, Can Tho Lottery Co., Ltd has achieved many breakthroughs, strengthened the organizational apparatus and corporate governance, and gradually become one of the largest and most prestigious lottery companies in the country.

Comprehensive innovation

Currently, Can Tho Lottery Company has a total of 101 agents active in 19 out of 21 southern provinces and cities, which directly distribute tickets to customers. In the past years, the company has replaced the manual lottery wheel with the advanced electronic lottery wheel imported from the United States to fit the lottery equipment modernization policy of the Ministry of Finance and Can Tho City People’s Committee, aiming to ensure the highest transparency and objectivity, and secure absolute confidence of customers and authorities.

Can Tho Lottery Co., Ltd has also made lottery tickets more attractive in design and appearance to meet buyers' tastes; applied new printing techniques to prevent fraudulence of winning tickets and unsold lottery tickets; automated professional activities, constantly modernized working processes in order to meet customer and agent needs in the fastest manner.

Hence, its business performance has improved over the years, with steady revenue growth. Particularly in 2019, the company achieved total revenue of VND3,550.611 billion, up 7.71% over 2018; paid VND1,300.31 billion to the State budget, up 6.57% over 2018; and earned a net profit of VND353.812 billion, 10.44% higher than 2018.

Sharing responsibility with the community

Mr. Tran Minh Tam, Chairman of the Board of Directors of Can Tho Lottery Co., Ltd, said, the COVID-19 pandemic forced the company to suspend lottery business from April 1 to 22, 2020 (four ticket rounds). As a result, its business targets (revenue, profit and tax payment) are significantly reduced.

Specifically, the company reported sales of VND2,280 billion in the first six months of 2020, fulfilling 43.02% of the full-year plan and equaling 94.21% of the value in the same period of 2019. The revenue was estimated at VND2,154 billion, 45.84% of the plan in 2020. The average sale of each lottery round was VND97.9 billion. 94.49% of lottery tickets were sold. Its six-month profit before tax was estimated at VND216 billion, 46.84% of the yearly plan and down 15.21% year on year.

“In the coming time, the economy is forecast to face a lot of difficulties, and the COVID-19 pandemic will be complicated. Therefore, in the last six months of the year, Can Tho Lottery Co., Ltd will strive to achieve the following targets: Sales of over VND4,400 billion, profit of over VND420 billion and tax of VND1,320 billion paid to the State budget. To achieve this plan, the company's leaders will work out specific action plans and strictly comply with regulations of the Ministry of Finance to achieve the best business results,” he said.

In addition to carrying out business goals, every year, Can Tho Lottery is very active in social security, spending a handsome amount of money on this. For example, the company builds charity houses for policy-benefited families and poor households; finances building schools and presents scholarships to poor and studious students; supports medical equipment for poor patients; visits and presents gifts to orphans and elderly people living alone in the city. The company’s employees also usually raise money to support the poor and the Golden Heart Fund, delivers relief to victims of natural disasters, and nurtures children infected with Agent Orange/dioxin.

In particular, to stabilize people's lives after the COVID-19 pandemic, Can Tho Lottery Co., Ltd has planned to fund VND10 billion for social security, of which over VND7 billion has been spent on building charitable houses, education and healthcare, and for lottery sellers (VND500,000 each).

By Ngoc Tung, Vietnam Business Forum