Largest brewer (SAB) sees revenue down, profit up in Q3
Largest brewer (SAB) sees revenue down, profit up in Q3
Viet Nam’s biggest brewer Sai Gon Beer-Alcohol-Beverage JSC (Sabeco) reported revenue down 17 per cent and post-tax profit up 1 per cent in the third quarter of this year.They respectively reached VND8 trillion and VND1.47 trillion.
Gross profit margin increased from 24.6 per cent to 30.7 per cent.
Although revenue declined compared to last year, it was up from the previous quarter thanks to the recovery of the market after the COVID-19 pandemic. It attributed the growth in profit to better cost management.
In the first nine months of this year, Sabeco recorded revenue of VND20.1 trillion, after-tax profit reached VND3.4 trillion, down 29 per cent and 20 per cent, respectively, compared to the first nine months of 2019.
Thus, after the first nine months, the company completed 84 per cent of the annual revenue plan and nearly 105 per cent of the profit plan.
Sabeco plans to achieve VND23.8 trillion in revenue, VND3.25 trillion in revenue and post-tax profit this year, down 37 per cent and 39 per cent compared to results achieved in 2019.
As of September 30 this year, Sabeco’s total assets increased by 2.7 per cent to VND27.7 trillion. Of which, cash and short-term financial investments reached VND17.5 trillion, accounting for 63.2 per cent of total assets.
Fixed assets reached VND4.8 trillion, accounting for 17.4 per cent of total assets. Long-term financial investment reached VND2.27 trillion, accounting for 8.2 per cent of total assets. Inventory totalled VND1.7 trillion, accounting for 6.2 per cent of total assets.
