CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Masan Group's core net profit jumps 3.4-fold to US$66.6 million in H1
Ngoc Thuy 09:48, 2018/07/26
Masan Group`s net profit after tax post minority interest (NPAT Post - MI) reached VND3.03 trillion (US$130.5 million) in the January-June period, representing a whopping increase of 566% year-on-year, stated the group.
Masan Group, one of the three largest privately-run conglomerates in Vietnam in terms of market capitalization, has said its core consolidated NPAT Post – MI grew by 3.4 times year-on-year in the first half of 2018 to reach VND1.55 trillion (US$66.6 million).
 
Illustration photo.
Illustration photo.
The group’s net profit margin reached 8.9% during the January – June period from 2.5% in the same period of last year, according to its second-quarter financial statement.
 
In the second quarter, Masan Group posted net revenue of VND9.18 trillion (US$395.5 million), up 11% compared to the previous quarter of VND8.2 trillion (US$353.2 million). 
 
This helped the firm's consolidated net revenue in the first half of 2018 reach VND17.45 trillion (US$751.6 million), down 3.1% year-on-year, due to the pork price crisis lasting from the last half of 2017 to April 2018, according to the report. 

Nevertheless, during this period, the group’s combined earnings before interest, taxes, depreciation and amortization (EBITDA) from its three subsidiaries climbed 38.4% year-on-year to VND5.14 trillion (US$222.2 million) from the VND3.78 trillion (US$163.4 million) in the same period of last year. The three subsidiaries are Masan Nutri-Science, Masan Consumer Holdings and Masan Resources.
 
Overall, Masan Group's NPAT post-MI reached VND3.03 trillion (US$130.5 million) in the six-month period, representing a whopping increase of 566% year-on-year. This included net one-time gains of VND1.47 trillion (US$63.32 million) primarily from the "deemed disposal" of the group's interest in Techcombank as a result of the bank 's recent equity issuances at a price higher than its carrying value. 

Among the group’s subsidiaries, Masan Consumer Holdings (MCH) continued to be the growth engine for Masan during the first half of 2018, backed by strong revenue growth in core consumption products and new growth drivers in beverages, processed meat and beer portfolio.

MCH posted growth rates in revenue and EBITDA of 36.9% and 174.3%, respectively.  
 
Followed by Masan Resources (MSR), of which revenue jumped to VND3.23 trillion (US$139.1 million) in the first six months of 2018, up 26.6% year-on-year. Higher tungsten prices, which were supported by China's environmental inspection and more stringent export quota policy, contributed to this result. Moreover, upgrades to the tungsten circuit have increased tungsten recovery from ore processed by 4.5% year-on-year. 
 
Masan Nutri-Science (MNS), which manufactures and markets animal feed, was impacted by a pig price plunge in the first half of this year, but started to show signs of market recovery since the second quarter. The company posted net revenue of VND3.49 trillion (US$150.8 million) in the second quarter from VND3.2 trillion (US$138.8 million) in the first quarter.

By excluding MNS's net revenue, the group's net revenue in the second quarter climbed 16.9% over the previous quarter and the revenue growth in the January - June period increased by 33.6% year-on-year.
Comments
Other news
18:45, 2024/11/28
Vietnam, Hesse (Germany) promote high-tech cooperation
Bilateral trade between Vietnam and Hesse has reached around EUR1 billion (US$1.05 billion) annually, accounting for one-tenth of total trade between Vietnam and Germany.
15:34, 2024/11/27
Big discounts on offer at Hanoi's November Promotion Festival
The event is part of the Hanoi Concentrated Promotion Program 2024, held in May, July, and November, attracting up to 2,000 businesses.
17:23, 2024/11/26
Hanoi unveils 150 most popular Vietnamese products and services for 2024
The "Most Popular Vietnamese Products" voting program is part of the city's broader efforts to encourage the consumption of local goods.
16:50, 2024/11/23
Hanoi hosts the Vietnam Regional Specialties Fair 2024
This year's fair will contribute to the promotion of trade and the expansion of typical regional products, especially agricultural and food products that meet export standards.
14:06, 2024/11/20
Hanoi strengthens export competitiveness and trade protection measures
Hanoi will work with the Ministry of Industry and Trade to ensure that businesses and manufacturers are ready for new challenges.
10:49, 2024/11/16
US reiterates Vietnam is not manipulating currency
The US Treasury Department’s positive evaluation underscores Vietnam’s progress in balancing its economic and monetary policies while fostering strong bilateral relations with the US.