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.
Sabeco's brewery production line. This year, Sabeco aims to achieve revenue of 33.49 trillion VND, up by 20 percent (Photo: sabeco.com.vn)
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 thefirst quarter of this year, an increase of 37.5 percent compared to thesame period in 2020.
The figureswere released in Sabeco’s consolidated financial statements for the firstquarter of 2021.
Net revenuereached 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 marginimproved from 27.6 percent to 29.2 percent.
Along withthe increase in revenue, selling expenses and administrative expenses increasedby 51 percent and 21 percent, respectively.
Revenue fromfinancial activities increased by 55 percent to touch 417 billion VND. Sabeco'sprofit improved sharply year-on-year thanks to a significant contribution fromfinancial activities.
Inventoriesincreased by more than 41 percent to 2 trillion VND. Inventory of finishedproducts increased from 623 billion VND to 1 trillion VND, up 66 percent.
Sabeco's cashand deposits, amount to 16.35 trillion VND, accounting for nearly 61 percentof its asset structure. The company continues to maintain short-term debt ofjust over 880 billion VND.
This year,Sabeco targets revenue of 33.49 trillion VND, up by 20 percent. After-taxprofit is expected to total nearly 5.3 trillion VND, up 7 percent compared to2020. It plans to pay dividend at a rate of 35 percent in cash./.
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Sabeco's brewery production line. This year, Sabeco aims to achieve revenue of 33.49 trillion VND, up by 20 percent (Photo: sabeco.com.vn) 
