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Masan Group profit reaches nearly $500 million

Released at: 18:02, 07/02/2017

Masan Group profit reaches nearly $500 million

Food and beverage brings large profits for the HCMC-based company.

by Quynh Nguyen

The Masan Group has announced its business results for 2016. They had a pre-tax profit of VND9.6 trillion ($442.2 million), of which revenue from food and beverage accounted for 40.3 per cent.

The group’s financial report showed that its revenue in 2016 stood at VND43.2 trillion ($1.9 billion), up 41.4 per cent year-on-year. Pre-tax profit stood at VND9.6 trillion ($442.2 million).  

Food and beverage (F&B) was the field that brought the largest revenue to the group with VND39.2 trillion ($1.7 billion), accounting for 40.3 per cent of revenue. Profit from F&B reached VND6.2 trillion ($272.8 million), up 30 per cent year-on-year. Revenue from mineral and other fields, meanwhile, reached VND4 trillion ($176 million).  

The merger of Saigon NutriFood and the acquisition of 25 per cent of the shares at Vissan Limited Company, one of Vietnam’s leading food enterprises, has helped Masan complete its model of Feed - Farm - Food (3F). The 3F model has contributed over 50 per cent of the revenue and profit of the group for the past few years

This year, the group’s target growth is 15 to 20 per cent, of which food and beverage and consumer products will continue contributing 90 per cent net revenue of the group, as it plans.

The Masan Group was founded in 1996 and is based in Ho Chi Minh City. Its key subsidiaries include Masan Consumer Holdings, Masan Nutri-Science and Masan Resources, while Techcombank is an associate company. The group was listed on the Ho Chi Minh Stock Exchange in November 2009.  

Masan Consumer, part of the Masan Group Corporation, officially listed 538.1 million shares at VND90,000 per share (US$4.06) on January 5 on the Unlisted Public Company Market (UPCoM) of the Ha Noi Stock Exchange.

The shares, traded under the code MCH, rose 9 per cent to close the trade at VND98,072 ($4.3) per share, bringing its market capitalization to more than $2.3 billion, which has made it one of the few billion-dollar companies on the UPCoM. 

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