Shareholders of Masan Group Corporation approved a number of targets for 2019 and profit distribution plans at its annual general meeting held in HCM City on Wednesday.

Chairman Nguyen Dang Quang said this year the company expects to achieve net revenues of VND45-50 trillion (US$1.9-$2.15 billion), an increase of 18-31 per cent.

Its after-tax profit after post-minority interest (NPAT Post - MI) is expected to be VND5-5.5 trillion, up 44-58 per cent.

In the first quarter of this year, MSN reported an increase of 6 per cent in NPAT Post-MI year-on-year to VND865 billion ($37.26 million).

Though net revenue was down by 1.4 per cent to VND8.16 trillion, the board is confident of achieving this year’s revenue plans.

By 2022, Masan Group aims to achieve revenues of $5 billion, growing at twice the pace of the country’s consumer expenditure growth of 10.2 per cent, and achieve a net profit margin of 12-15 per cent.

Masan Consumer Corp (MCH) is aimed to become the number one consumer innovator in the market and deliver 50 per cent of consolidated revenue from new products.

Masan Nutri-Science (MNS) expects to own 10 per cent market share of Viet Nam’s over $10 billion pork market. Its other important targets are to build the number one nationwide meat distribution network and to obtain $2 billion in revenue with 50 per cent coming from branded meats, and net profit margin of 10-12 per cent.

Masan Resources (MSR) will consolidate the ammonium para tungstate market share from 36 per cent currently to over 50 per cent, by increasing Masan Tungsten Co.’s capacity and build strategic partnerships to become a hi-tech global materials player.

Techcombank’s strategy of building a consumer eco-system and executing on a “Low Risk-High Return” model is expected to ensure growth driven by fee income, industry leading return on average equity of over 20 per cent and a retail consumer base of over 15 million.

Quang said: “I have never been more confident about our strategic direction and bottom-up execution. Meat, without doubt, is a game changer. We have solidified our meat foundation in the first quarter of 2019 and will scale-up aggressively in the upcoming quarters.

“Masan Consumer’s 2019 growth will be driven by innovations across categories.

“I also believe this will be the year that [Techcombank] truly evolves into a financial life platform and Masan Resources transforms into a high-tech materials player.

“As long as we stick to our core ‘keep going long’ principles and purpose, we will make our 2022 game plan a reality.”

Danny Le, Masan Group's strategy and development director, said seasoning and noodles still have huge medium-term growth potential.

In the beverages sector, Masan would enhance the development of energy drinks to expand its market share from 7 per cent now to 25-30 per cent in the medium term, he said.

It also plans to enter the speciality and nutrition drinks segment this year, he said.

He revealed that Masan is next set to enter the home personal care and retail sectors.

Masan shareholders also approved other important proposals like an employee stock ownership plan.

The money raised from the issuance will be used to increase the company’s charter capital and supplement its working capital.

The meeting approved a plan not to pay 2018 dividends in cash. — VNS