Workers load beer packages on trucks at Saigon-Ninh Thuan Beer Company, a member of Sabeco (Photo:VNA) Hanoi (VNA) – Saigon Beer, Alcohol and Beverage Corporation (Sabeco) announcedits net profit in the first quarter of 2017 rose 18.8 percent year-on-year to 1.12trillion VND (49.78 million USD).
Sabecoalso reported its total revenue increased by 4.9 percent yearly to 7.48trillion VND, with pre-tax profit up 18.2 percent to 1.45 trillion VND.
Bythe end of March 31, Sabeco’s total assets reached value of 18.75 trillion VND,a decline of 2.3 percent from the beginning of this year with the biggestproportion bank deposits, which reached value of 6.64 trillion VND.
Sabecosaid in the quarterly financial report released last week that revenueincreased sharply because selling prices rose in the first quarter, making thepercentage of total selling cost in the company’s revenue decreasesignificantly.
Inthe first quarter, Sabeco sold its entire 0.46 percent stake in the Vietnam ExportImport Commercial Joint Stock Bank (Eximbank), which was recorded at 36.6billion VND on January 1.
Thedivestment helped increased Sabeco’s financial income by 1.5 times to 145billion VND.
Sabecoremained the shareholder of nine other companies, including some financial andbanking institutions that are the Orient Commercial Joint Stock Bank (OCB),DongA Bank, PVI Southern Insurance Company and Sabeco Packaging Joint StockCompany.
Amongthose companies, the biggest investments are in the OCB and DongA Bank withinitial values of 216 billion VND and 136 billion VND, respectively.
Sabecois listed on the HCM Stock Exchange under code SAB. The company’s shares ended onMay 3 at 199,900 VND per share.-VNA
Sabecoalso reported its total revenue increased by 4.9 percent yearly to 7.48trillion VND, with pre-tax profit up 18.2 percent to 1.45 trillion VND.
Bythe end of March 31, Sabeco’s total assets reached value of 18.75 trillion VND,a decline of 2.3 percent from the beginning of this year with the biggestproportion bank deposits, which reached value of 6.64 trillion VND.
Sabecosaid in the quarterly financial report released last week that revenueincreased sharply because selling prices rose in the first quarter, making thepercentage of total selling cost in the company’s revenue decreasesignificantly.
Inthe first quarter, Sabeco sold its entire 0.46 percent stake in the Vietnam ExportImport Commercial Joint Stock Bank (Eximbank), which was recorded at 36.6billion VND on January 1.
Thedivestment helped increased Sabeco’s financial income by 1.5 times to 145billion VND.
Sabecoremained the shareholder of nine other companies, including some financial andbanking institutions that are the Orient Commercial Joint Stock Bank (OCB),DongA Bank, PVI Southern Insurance Company and Sabeco Packaging Joint StockCompany.
Amongthose companies, the biggest investments are in the OCB and DongA Bank withinitial values of 216 billion VND and 136 billion VND, respectively.
Sabecois listed on the HCM Stock Exchange under code SAB. The company’s shares ended onMay 3 at 199,900 VND per share.-VNA
VNA
