Vinacafé Bien Hoa shareholders approve plans for 2021, appointment of new general director

Thursday, Apr 15, 2021 18:00

Le Huu Thang, new general director of Vinacafe Bien Hoa Joint Stock Company. — Photo courtesy of the company

Vinacafe Bien Hoa Joint Stock Company expects to achieve net revenues of VND2.9-3 trillion (US$125.4-129.7 million) and after-tax profit attributable to shareholders of VND710-730 billion ($30.7-31.6 million) this year.

The company held its annual general meeting on April 14 where shareholders approved a number of targets and plans for 2021.

Despite difficulties last year due to the prolonged COVID-19 pandemic, rising raw material prices and fierce competition in the instant coffee market, the company achieved net revenues of VND2.9 trillion and net profit after tax attributable to shareholders of VND724 billion.

It paid 250 per cent dividends last year.

Its brands such as B'fast, Wake up Saigon, Phinn and especially Wake-up 247 continue to be key drivers of profits during a tough and challenging year.

Incorporating with Masan Consumer and VinMart/VinMart+ retail chains has helped Vinacafe Bien Hoa strengthen its distribution chain in both rural to urban areas.

Its strategies for this year include the launch of many new products.

Last year it won the ‘Viet Nam National Brand - Vietnam Value’ award for the seventh consecutive year and was named in the top 10 prestigious companies in the food and beverage industry for a fourth straight year.

The AGM approved the appointment of Le Huu Thang as the company’s new general director.

He has more than 25 years of experience in the FMCG industry and held key positions in research and development and operation of coffee production and processing complexes at multinational companies in the US, Switzerland, Australia, Russia, Thailand, and Viet Nam. — VNS

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