FPT Retail (FRT)'s recent business report indicates that the Long Chau pharmacy chain achieved revenue of over 34,500 billion dong in 2025, a 36% increase year-on-year and 7% above its target. This marks a record high for Long Chau, with average daily sales reaching approximately 95 billion dong. The chain also reported a record earnings before interest, taxes, depreciation, and amortization (EBITDA) of over 1,680 billion dong last year, an improvement of nearly 76% from 2024. FPT Retail's leadership identifies Long Chau as its primary growth engine, contributing 68% of FRT's consolidated revenue and serving about 33 million customers, nearly one-third of the national population.

This performance is supported by Long Chau's extensive network of over 2,400 pharmacies and more than 200 vaccination centers nationwide. By the end of 2025, the chain operated over 2,600 retail outlets, adding more than 570 new locations compared to the previous year. This expansion included areas outside major urban centers. Each pharmacy generates an average monthly revenue of approximately 1,2 billion dong. Long Chau's revenue remains competitive with large modern retail chains for food and fast-moving consumer goods. In 2025, a retail chain with nearly 4,600 stores recorded revenue of almost 39,000 billion dong. Compared to direct competitors in the pharmacy sector, Long Chau's revenue is significantly higher; for instance, a pharmacy chain with nearly 400 sales points reported revenue of just under 2,200 billion dong last year.

FPT Shop also experienced growth, with its full-year 2025 revenue exceeding 16,800 billion dong, an 11% increase from the previous year. Q4 2025 alone saw a 25% year-on-year growth, with average monthly revenue per store reaching 2,8 billion dong. Throughout 2025, FPT Shop restructured its product portfolio and expanded into new categories such as electronics, home appliances, and virtual mobile networks, enhancing revenue efficiency per store. Overall, FPT Retail reported total revenue exceeding 51,000 billion dong for the year, a 27% increase. Its pre-tax profit was approximately 1,219 billion dong, up 31% year-on-year. While revenue surpassed the target by about 6%, profit exceeded projections by 35%, primarily due to effective cost of goods sold and expense control.

Outside a Long Chau pharmacy. Photo: FPT Retail

In a report from late last year, BIDV Securities (BSC) identified the pharmacy chain as a continuing profit pillar and growth driver for FPT Retail. Analysts anticipate Long Chau will open hundreds of new stores this year, highlighting its capacity for expansion and ability to capitalize on market share opportunities. This comes as the industry shifts towards a greater demand for quality and genuine products, especially with new drug quality regulations and government initiatives to eliminate counterfeit drugs from the market. However, BSC noted that the vaccination center model has not yet made a substantial contribution to Long Chau's financial results. They expect the company to optimize this model and launch dozens of new centers this year, with a projected break-even period of 12 months.

Tat Dat