Saigon’s oldest zoo incurs heavy loss due to Covid-19

The Saigon Zoo and Botanical Gardens Co. Ltd posted a nearly VND 7 billion ($304,231) loss in 2020 due to the impacts of the Covid-19 pandemic.
April 22, 2021 | 15:34
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Saigon’s oldest zoo incurs heavy loss due to Covid-19
Saigon Zoo and Botanical Gardens. Photo: Zing News

The company’s revenue reached VND70 billion ($3 million) last year, representing a year-on-year decline of VND44 billion ($1.9 million) and the lowest in six years, Vnexpress reported.

The loss broke its chain of profits for 5 consecutive years and didn’t complete the target of gaining profit of nearly VND2 billion ($86,941) assigned by the Ho Chi Minh City People's Committee.

The sharp decrease in the number of visitors resulted in a decline in the revenue. Last year, the zoo had to close for nearly two months (from March 20 to May 14) in a bid to prevent the Covid-19 and shut again on July 25 as the new outbreak hit the country.

At the beginning of this year, as the epidemic was at ease, the company set a target of achieving VND144 billion ($6,2 million) in revenue and VND2.2 billion ($95,651) in pre-tax profits.

However, not long after that, it adjusted the target down to VND81 billion ($3.5 million) and only expected breakeven.

The zoo increased its ticket prices from VND30000 to VND40000 ($1.3- $1.7) for children and from VND50000 to VND60000 for adults ($2.1- $2.6) from the beginning of this year.

The zoo, built in 1864, is now 157 years old.

It has a capital of nearly VND700 billion ($304 million) and is a 100% state-owned enterprise managed by the HCMC People's Committee. Its main source of revenue comes from ticket sales.

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