Completing negotiations with partner Jalux - Japan, AST officially increased its ownership ratio in the Japanese duty-free store chain to 51%.

Increasing the ownership ratio at JDV is one of the important strategies to add the duty-free business line to AST's non-aviation service chain in 2018 - 2019, in which the first step is to acquire 49% of JDV from the parent company, Thang Long Aviation Services Joint Stock Company (Taseco) from October 2018. In the fourth quarter of 2018 alone, JDV contributed VND 5.26 billion to Taseco Airs' consolidated profit.

Jalux, with experience in operating and managing retail stores and duty-free stores with a system of 87 stores at 27 airports, along with 18 member companies and affiliates in Japan and internationally, will continue to support JDV in negotiating and working with suppliers, while applying international, professional standards to manage duty-free stores.

With AST, thanks to 14 years of experience in developing, operating and managing a chain of non-aviation stores in the fields of souvenir shops, fast food restaurants, tourist information, etc. under the Lucky brand at 7 major airports in Vietnam, it will help JDV in operating and controlling the operations of stores at the airports, while actively supporting JDV in expanding its operations to major international airports in Vietnam, in addition to the 2 current airports where JDV is present, Noi Bai and Da Nang.

In 2018, JDV's revenue reached 234 billion VND, an increase of 45.6% compared to 2017 and 42.2 billion VND in profit after tax, an increase of 80% compared to 2017. It is expected that in 2019, JDV will achieve revenue of about 240 billion VND and profit after tax of nearly 40 billion VND.

With 51% ownership of JDV, AST plans to consolidate all business results of this duty-free company from the end of March 2019. Thus, AST will have an additional annual consolidated revenue of more than VND 200 billion from Jalux duty-free sales and about VND 40 billion in after-tax profit from non-aviation service business activities.

On March 15, 2019, AST announced its audited report for the 2018 fiscal year, according to which the Company's total revenue reached VND 865 billion, an increase of 31% compared to 2017, consolidated profit after tax reached VND 163.25 billion, an increase of 10% compared to 2017. At the same time, on March 15, 2019, AST closed the list of 15% cash dividend advance, and is expected to pay 25% stock dividend in the second quarter of 2019.

According to cafef.vn