Sabeco posts biggest quarterly profit since acquisition by Thai firm
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Vietnam’s largest brewer Sabeco reported post-tax profits of VND1.79 trillion ($76.6 million) for the second quarter, the highest since ThaiBev acquired it in 2017.
It represented a 67 percent increase year-on-year, while revenues were up 25 percent to VND9 trillion.
The management said the lifting of social distancing restrictions, resumption of tourism and a general rise in consumption helped boost sales.
Profits for the first six months were VND3.03 trillion, 66 percent of the full-year target.
Thailand’s largest beverage company bought a 54 percent stake in Sabeco, the maker of Saigon Beer, five years ago.
Questions & Answers
Q.What was Sabeco's post-tax profit for the second quarter and how does this compare to last year?
What was Sabeco's post-tax profit for the second quarter and how does this compare to last year?
Sabeco reported post-tax profits of VND1.79 trillion ($76.6 million) for the second quarter. This represented a 67 percent increase compared to the same period last year.
Q.What factors did the management attribute to the boost in sales for Sabeco?
What factors did the management attribute to the boost in sales for Sabeco?
The management stated that the lifting of social distancing restrictions, a return of tourism, and a general rise in consumption all contributed to the increase in sales.
Q.When did ThaiBev acquire its majority stake in Sabeco and what was the size of this stake?
When did ThaiBev acquire its majority stake in Sabeco and what was the size of this stake?
Thailand's largest beverage company, ThaiBev, acquired a 54 percent stake in Sabeco five years ago, in 2017.
Q.What were Sabeco's profits for the first six months of the year, and how close is this to their annual target?
What were Sabeco's profits for the first six months of the year, and how close is this to their annual target?
Profits for the first six months reached VND3.03 trillion. This figure represents 66 percent of the company's full-year profit target.
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