Vietnam: Habeco posts 12% increase in quarterly post-tax profit

The Hanoi Beer Alcohol and Beverage Joint Stock Corporation (Habeco) has reported its highest quarterly profit since April 2017, the Viet Nam News reported on August 9.

The company has announced its post-tax profit gained 12 per cent year on year to nearly VNĐ241 billion (US$10.36 million) in the second quarter of 2019.

Its Q2 revenue was down 16.5 per cent year on year to VNĐ2.43 trillion.

Despite the lower revenue, the increase in post-tax profit was thanks to a rise in gross margin, which was 27.3 per cent in Q2 – up from 24 per cent made in the second quarter of 2018.

The company also managed to reduce its expenses from the second quarter of last year.

Financial cost in the quarter was down a third to VNĐ8.3 billion and selling cost fell 12 per cent to VNĐ310 billion.

Meanwhile, management cost changed little at VNĐ117 billion.

In the second quarter, revenue from financial investments increased by 28 per cent year on year to VNĐ43.4 billion.

Most of the financial investment revenue came from savings. Cash and other financial assets were valued at VNĐ3.82 trillion, accounting for 42 per cent of its total assets.

In the first half of the year, Habeco earned VNĐ4 trillion in revenue, down 8 per cent year on year. Its six-month post-tax profit fell 6 per cent to VNĐ304.6 billion.

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