The brewer Habeco reported bleak business, with revenue dropping in the second quarter due to the fourth wave of the COVID-19 pandemic.
|Habeco reports a decrease in revenue in the second quarter |
According to its business statement for the second quarter, between April and June, Habeco acquired VND1.94 trillion($84.34 million) in net revenue, down 10 per cent on-year. Its revenue in the second quarter declined by 13 per cent on-year.
As a result, its gross profit was VND511 billion ($22.2 million), down 10 per cent on-year.
Amid the ongoing pandemic, the group’s expenses for operation and management decreased over year, however, there has been a marked rise in sales expenses, including advertisements, promotion programmes, and delivery.
In general, in Q2, the brewer acquired VND205 billion ($8.91 million) in pre-tax profit, down 25 per cent on-year. Profit was four times higher than in Q1, however, it is the lowest second-quarter profit of the company since 2015.
In the first half, Habeco’s net revenue and gross profit reached VND3.32 trillion ($144.34 million) and VND229 billion ($9.95 million), up 15 and 57 per cent on-year, respectively.
Habeco's H1 business results are brighterthan last year because in H1/2020 the company suffered a loss of VND100 billion ($4.34 million) due to the dual impact of the pandemic and Decree No.100/2019/ND-CP on administrative sanctions for road traffic and rail transport violations, applicable since January 1, 2020.
Habeco is the second largest domestic brewer in Vietnam, following Sabeco. This brewer currently holds 18.4 per cent of the market share.