A production line of Sai Gon Beer-Alcohol-Beverage JSC (Sabeco) (Source: VNA) Hanoi (VNA) - Sai Gon Beer-Alcohol-Beverage JSC (Sabeco), Vietnam’sbiggest brewer, reported revenue down 17 percent and post-tax profit up 1 percentin the third quarter of this year.
Theyreached 8 trillion VND (345.3 million USD) and 1.47 trillion VND(65.45 million USD), respectively. Grossprofit margin increased from 24.6 percent to 30.7 percent.
Althoughrevenue declined compared to last year, it was up from the previous quarterthanks to the recovery of the market after the COVID-19 pandemic. It attributedthe growth in profit to better cost management.
Inthe first nine months of this year, Sabeco recorded revenue of 20.1 trillion VND(867.58 million USD), after-tax profit reached 3.4 trillion VND, down 29 percentand 20 percent, respectively, compared to the first nine months of 2019.
Thus,after the first nine months, the company completed 84 percent of theannual revenue plan and nearly 105 percent of the profit plan.
Sabecoplans to achieve 23.8 trillion VND in revenue, 3.25 trillion VND in revenue andpost-tax profit this year, down 37 percent and 39 percent compared to resultsachieved in 2019.
Asof September 30 this year, Sabeco’s total assets increased by 2.7 percent to 27.7trillion VND. Of which, cash and short-term financial investments reached 17.5trillion VND, accounting for 63.2 percent of total assets.
Fixedassets reached 4.8 trillion VND, accounting for 17.4 percent of total assets.Long-term financial investment reached 2.27 trillion VND, accounting for 8.2 percentof total assets. Inventory totalled 1.7 trillion VND, accounting for 6.2 percentof total assets./.
VNA
