Vietnam: Sabeco posts 6% rise in first-half after-tax profits

Vietnam’s largest brewer Sabeco posted after-tax profits of VND2.057 trillion ($89.43 million) in the first half of this year, a year-on-year rise of 6 percent, VnExpress International reported on July 31.

Sabeco, which owns the Saigon Beer and 333 brands, recorded revenues of nearly VND13.09 trillion in the first half, over 89 percent of which was from beer sales, up 9 percent on-year. Meanwhile, its sales costs, mainly advertisements and promotion, surged 44 percent to VND1.945 trillion.

The company, owned by Thai beverage giant ThaiBev, has targeted revenues of VND33.491 trillion and profits of 5.289 trillion this year, up 20 percent and 7 percent year-on-year, respectively.

As of end June, Sabeco’s total assets were valued at VND28.56 trillion, up VND1.2 trillion against early this year.