Hanoi (VNS/VNA) – Vietnam’s largest brewer Sai Gon Beer-Alcohol-Beverage JSC (Sabeco) earned 986 billion VND (42.6 million USD) in post-tax profit in the first quarter of this year, an increase of 37.5 percent compared to the same period in 2020.
The figures were released in Sabeco 's consolidated financial statements for the first quarter of 2021.
Net revenue reached 5.86 trillion VND, 19 percent higher than the same period last year. Gross profit was 1.7 trillion VND, up by 26.5 percent. Gross profit margin improved from 27.6 percent to 29.2 percent.
Along with the increase in revenue, selling expenses and administrative expenses increased by 51 percent and 21 percent, respectively.
Revenue from financial activities increased by 55 percent to touch 417 billion VND. Sabeco’s profit improved sharply year-on-year thanks to a significant contribution from financial activities.
Inventories increased by more than 41 percent to 2 trillion VND. Inventory of finished products increased from 623 billion VND to 1 trillion VND, up 66 percent.
Sabeco’s cash and deposits, amount to 16.35 trillion VND, accounting for nearly 61 percent of its asset structure. The company continues to maintain short-term debt of just over 880 billion VND.
This year, Sabeco targets revenue of 33.49 trillion VND, up by 20 percent. After-tax profit is expected to total nearly 5.3 trillion VND, up 7 percent compared to 2020. It plans to pay dividend at a rate of 35 percent in cash./.
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