Sabeco reports all-time record profit

February 04, 2017 | 11:11

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Saigon Beer-Alcohol-Beverage JSC (Sabeco)’s 2016 after-tax profit reached VND 4.655 trillion (over $205 million), increasing 33 per cent on-year, a company record since its establishment.

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The figure was reported in Sabeco’s recently released consolidated financial report for the fourth quarter of 2016. Revenue was VND30.66 trillion ($1.35 billion), up 12.9 per cent on-year. Earnings per share (EPS) in 2016 was VND6,978 (about 30 US cent). At the end of the trading session on February 2, 2017, the stock reached VND219 thousand ($9.66), which was equivalent to the price-earnings ratio of 31.

Numbers released at the company’s conference to review its performance in 2016 showed that the output was 1.603 million litres, of which 1.584 million litres were sold. The company submitted VND16.5 trillion ($730 million) to the state budget in tax.

In the fourth quarter of 2016, Sabeco earned a revenue of VND8.834 trillion (over $390 million), up 80 per cent on year. Although gross profit declined due to growing prices, it still rose by 11 per cent compared to the fourth quarter of 2015.

Income from financial activities rose by 48 per cent in this quarter to VND172 billion (nearly $7.6 million), while financial expenses were reduced to VND31 billion (about $1.37 million). Some other expenses, such as general, administrative, and sales expenses remained nearly unchanged.

As a result, Sabeco recorded VND997 billion (nearly $44 million) in after-tax profit, a 16 per cent growth in the fourth quarter of 2016.

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