Brewer Habeco Q2 profits highest since 2017

Friday, Aug 09, 2019 08:57

A Habeco production line. The company has reported its Q2 post-tax profit reached the highest level in two years. — Photo

The Hanoi Beer Alcohol and Beverage Joint Stock Corporation (Habeco) has reported its highest quarterly profit since April 2017.

The company has announced its post-tax profit gained 12 per cent year on year to nearly VND241 billion (US$10.36 million) in the second quarter of 2019.

Its Q2 revenue was down 16.5 per cent year on year to VND2.43 trillion.

Despite the lower revenue, the increase in post-tax profit was thanks to a rise in gross margin, which was 27.3 per cent in Q2 – up from 24 per cent made in the second quarter of 2018.

The company also managed to reduce its expenses from the second quarter of last year.

Financial cost in the quarter was down a third to VND8.3 billion and selling cost fell 12 per cent to VND310 billion.

Meanwhile, management cost changed little at VND117 billion.

In the second quarter, revenue from financial investments increased by 28 per cent year on year to VND43.4 billion.

Most of the financial investment revenue came from savings. Cash and other financial assets were valued at VND3.82 trillion, accounting for 42 per cent of its total assets.

In the first half of the year, Habeco earned VND4 trillion in revenue, down 8 per cent year on year. Its six-month post-tax profit fell 6 per cent to VND304.6 billion. — VNS

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