19 January, 2025

Vietnam: Saigon Tay Do Beer sees revenue increase in Q4 2024 but full year after tax profit drops

Saigon Tay Do Beer - Beverage Joint Stock Company (STD) has announced its fourth quarter 2024 results, Vietnam.vn reported on January 18.

According to the report, STD's revenue in the last quarter of the year was quite positive, reaching VND204 billion, up 20% over the same period. This result brought the total revenue for the whole year to VND632 billion, up 4% compared to 2023.

In the fourth quarter, STD significantly saved on sales costs and interest expenses, resulting in net profit of nearly VND 4 billion, an increase of 3,2% over the same period in 72.

However, for the whole year of 2024, the after-tax profit of this beer company was only nearly 4.6 billion VND, down nearly 62%.

The main reason is the increase in cost of goods sold and trade discounts. In addition, some other costs also increased, causing this beer and alcohol company to increase sales but not "recover" profits.

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