Ha Noi Beer Alcohol and Beverage Joint Stock Corporation (Habeco) targets total revenue of over VND8.8 trillion (US$390 million) in 2017, up 9.1 per cent year-on-year.

The brewer plans to earn pre-tax profit of VND1 trillion this year, up slightly from 2016, and dividends are projected at 20 per cent.

The company’s revenue in 2016 grew by 8 per cent to reach VND8.1 trillion. Pre-tax profit reached VND997.3 billion, up 0.6 per cent year-on-year.

With this result, the dividend rate was adjusted upwards to 18 per cent, equivalent to VND417 billion. The company paid 10 per cent dividend in 2015.

The Ministry of Industry and Trade (MOIT), Habeco’s biggest stakeholder with 81.79 per cent capital, is expected to collect VND341 billion.

At its 2017 annual general meeting of shareholders held last week, two members of the board of directors were dismissed, including Nguyen Thi Nga representing the Ministry of Industry and Trade and Tayfun Uner, CEO of Carlsberg Viet Nam, which currently holds a 17.08 percent stake of Habeco.

Do Xuan Ha was appointed to replace Nguyen Thi Nga from May 11 until the Ministry of Industry and Trade has made a decision on personnel.

Habeco only elected one new member to the board, namely Soren Ravn, Business Development Manager of the Carlsberg Group. With this change, Habeco temporarily has just four board members.

Headquartered in Ha Noi, Habeco is the largest beer producer in the North and the third-largest beer company in Viet Nam, with popular brands such as Ha Noi Beer and Truc Bach Beer. It owns 17 subsidiaries and nine affiliated companies. — VNS