Sabeco reports massive revenue and profit in fourth quarter of 2017
Sabeco reports massive revenue and profit in fourth quarter of 2017
Saigon Beer, Alcohol and Beverage Corporation (Sabeco) reported a net revenue of VND10.4 trillion ($442.1 million) and after-tax profit of VND1.37 trillion ($60.3 million) in the fourth quarter of 2017, signifying increases of 17 and 29 per cent, respectively, according to statistics published by Sabeco.
According to the Sabeco board of directors, the increase in beer consumption as well as the adjustment of the beer selling price increased the corporation’s revenue and profit.
With the positive fourth quarter business results, Sabeco reported the accumulated net revenue of VND34.5 trillion ($1.52 billion) and after-tax profit of VND4.64 trillion ($204.3 million) throughout the year, signifying respective increases of 12 and 9 per cent.
In the fourth quarter of 2017, Sabeco spent an average VND3.1 billion ($136.5 million) per day for advertisement and promotion programmes.
As of December 31, 2017, Sabeco suffered VND5.15 trillion ($226.8 million) in debts, up VND1.87 trillion ($82.3 million), with VND5.047 trillion ($222.2 million) in short-term debts.
According to the statistics of the Vietnam Beer Alcohol Beverage Association (VBA), in 2017 Vietnam consumed 4 billion litres of beer, up 6 per cent on-year. Sabeco alone sold 1.73 billion litres of beer, up 8 per cent on-year.
ThaiBev, the owner of a 53.56 per cent stake in Sabeco, announced plans to sell between 1.85 and 2 billion litres of beer and increase Sabeco’s market share to 50 per cent this year.
Koh Poh Tiong, chairman of F&N—a member company of Thai Beverage Public Company Limited (ThaiBev)—said at the meeting organised to summarise the business results of 2017 and the development plan for 2018 that being the largest shareholder of Sabeco, F&N will support the corporation to become the leading brewer in Vietnam.
F&N will take Sabeco’s products into F&N’s distribution system in Vietnam and other countries, and simultaneously increase Sabeco’s beer sales in Singapore, Thailand, and Vietnam.
