Nguyen Dang Quang, chairman of Masan Group Corporation, presents its development plan for 2017 (Photo: VNA)

HCM City (VNA) - Shareholders of Masan Group have approved a 11 percent cash dividend for 2016 and the remaining 7 trillion VND post-tax profit will be retained entirely.

At its shareholders meeting in HCM City on April 24, Masan has set a target of increasing sales and net profits by 15-20 percent to over 50 trillion VND (2.19 billion USD) and 3.2-3.4 trillion VND this year.

The group reported sales of 43.29 trillion VND last year, a year-on-year increase of 41 percent. Its net profit increased to 2.79 trillion VND from 1.48 trillion VND.

In the meat value chain, MSN has integrated and transformed Proconco and ANCO’s animal feed businesses into a single “FMCG-like” platform, resulting in 24.4 trillion VND in sales last year.

With groundbreaking done for its 10,000-sow Nghe An pig farm and a strategic partnership with Vissan, Masan has put in place key building blocks for developing an integrated meat value chain.

This year, the net revenue of Masan Nutri-Science, a subsidiary of Masan Group, is expected to grow by 20-30 percent.

Masan has also developed a full-fledged branded food and beverage franchise that has been delivering a steady stream of free cash flows for the past three years.

Since developing market leading positions in key food categories such as seasonings and convenience foods, Masan has gone on to build a beverage business.

Bottled beverage is now Masan’s fastest growing category, with 69 percent growth in non-alcoholic bottled beverages and 47 percent growth in beer in 2016.

Masan Resources has emerged as a globally significant tungsten producer, delivering profitability and more than 50 percent revenue growth last year despite a depressed commodity price environment.

This year Masan Resources is expected to grow net revenues by 22-27 percent and earnings by 37-164 percent depending on commodity prices.

In 2017, Masan Consumer is hoped to contribute 60 percent of net sales and earnings, with Masan Nutri-Science and Masan Resources accounting for 30 percent and 10 percent.-VNA