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Masan Group releases Jan-Jun business results

Released at: 18:24, 15/08/2015

Masan Group releases Jan-Jun business results

Group's revenue increases more than 50%.

by Minh Tuyet

The Masan Group has reported revenue in the first half of the year of VND10.414 trillion ($471.23 million), a 52 per cent increase year-on-year.

Revenue from its food and beverage business and from its animal protein business were VND5.881 trillion ($266.11 million) and VND3.332 trillion ($150.77 million), respectively.

Masan Nutri-Science, one of the largest animal protein suppliers in Vietnam, contributed VND3.332 trillion ($150.77 million) to consolidated revenue and grew the strongest among the group’s subsidiaries after focusing on the domestic market.

In the second quarter revenue increased sharply, reaching VND408 billion ($18.46 million). Revenue from the group’s joint venture companies totaled VND149 billion ($6.74 million).

In the first half the revenue of Masan Resources stood at VND1.201 billion ($54.34 million), a 4.9 per cent increase year-on-year. It has simplified the structure of its enterprises and optimized its asset structure. It established Masan Consumer Holdings (MCH) to manage consumer goods, including food and beverages.

In the second quarter MCH issued ten-year bonds with a total value of VND9 trillion ($407.25 million), with funds used to pay loans and provide investment capital. In August the group completed a $175 million loan.

The Group also announced that Mr. Michael H. Nguyen has been appointed Chief Financial Officer, Deputy General Director, and Head of the Business Department.

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