Masan’s Q2 profit doubles

By Dat Nguyen July 26, 2024 | 09:37 pm PT

Customers shop in a WIN retail store. Photo courtesy of Masan Group

Conglomerate Masan Group posted VND946 billion ($38 million) post-tax profit in the second quarter, up 2.2 times year-on-year.

The jump in profits was driven by improvements across its main businesses and a reduction in debts, it said in a press release.

Its revenues rose 8.2% to VND20.1 trillion, with key subsidiaries reporting strong growth.

Masan Consumer Corporation, a producer of seasoning products and beverages, saw sales jump by 14% to VND7.39 trillion.

For WinCommerce, the operator of Winmart retail stores, there was 9.2% growth to VND7.84 trillion, thanks to the new store format called WIN and Winmart+ Rural stores.

It now has 3,673 stores nationwide after adding 40 this year.

Beverage chain Phuc Long Heritage’s revenues increased by 5.3% to VND391 billion.

"Management continued to maintain a prudent approach" with four new stores added in the first half of this year, Masan said, adding that Phuc Long now has 163 stores.