Vietnam's Viettel Global has reported an 7% increase in profit to 1.34 trillion dong ($57.4 million) for the third quarter of 2018, as a result of strong performance at its Burundi and Haiti divisions.
Revenue from the two markets grew 14% and 26% respectively, contributing to a 5% increase in Viettel Global's total profit for the quarter to 4.43 trillion dong, Viet Nam Newsreported.
Viettel Global is the international division of Vietnamese military-run operator Viettel, with operations in 11 markets – Vietnam, Myanmar, Cambodia, Laos, East Timor, Haiti, Peru, Mozambique, Cameroon, Burundi and Tanzania.
Despite the third quarter growth, the operator reported a swing to a net loss of 812 billion dong for the first nine months of the year as a result of losses at its new Myanmar joint venture MyTel, which has yet to break even.
Viettel aims to break even within the first two to two and a half years of MyTel's operations. The venture launched services in June last year.
As part of its growth plan for 2018-2020 Viettel Global has set an ambitious goal of expanding to reach a global population of between 400 million to 500 million and becoming one of the world's top 10 operators. The operator already has around 100 million subscribers worldwide.