Habeco sets to raise turnover by 6.7 percent to 322 mln USD in 2018

Hanoi (VNA) – The Hanoi Beer Alcohol and Beverage JSC (Habeco) is set on earning 8.3 trillion VND (332 million USD) in turnover and 955.4 billion VND (83.2 million USD) in pre-tax profit in 2018, an increase of 6.7 percent and 0.3 percent from last year, said Habeco Director General Ngo Que Lam.

He announced the firm’s goals at the conference to review its performance in 2017 and outline tasks for 2018 in Hanoi on January 10.

The brewer will also contribute an estimated 5.37 trillion VND (214.8 million USD) to the State budget.

Ending 2017, Habeco reported total revenue of nearly 7.8 trillion VND (311.2 million USD) and paid more than 4.8 billion VND (192.5 million USD) into the State coffer.

Headquartered in Hanoi, Habeco is the largest beer producer in the North and the third-largest beer company in the country, with popular brands such as Hanoi Beer and Truc Bach Beer. It owns 17 subsidiaries and six affiliated companies, with total production capacity of over 800 million litres of beer per year.

The corporation will list 231.8 million shares, equivalent to the total listing value of about 2.32 trillion VND (103 million USD), on the Ho Chi Minh Stock Exchange (HOSE) on January 19.

Shares of the North’s largest brewer are trading at some 128,000 VND per share on the Unlisted Public Company Market (UPCoM), which is under the management of the Hanoi Stock Exchange.

By changing its listing to HOSE, which is the main bourse in Vietnam, with total market capitalisation of some 68 billion USD, Habeco is expected to improve its reputation and draw more investments.

The company has become a ‘phenomenon’ on the UPCoM since its debut on October 28 last year, when its price shot up from an initial 39,000 VND per share to a peak of 225,800 VND per share on December 16.-VNA