Masan’s revenue surges 16 pct

By Dat Nguyen August 1, 2021 | 11:11 pm PT

A VinMart employee arranges fruits in a VinMart supermarket in Hanoi. Photo by Shutterstock/Asia Images.

Leading consumer retailer Masan saw revenues in the first half rise 16.4 percent year-on-year to VND41.2 trillion ($1.79 billion) thanks to double-digit growth in retail and meat businesses.

Pre-tax profit surged over six times to VND1.6 trillion, partly driven by the improving profit margin of VinCommerce, which operates the VinMart retail chain.

After securing a deal with beverage chain Phuc Long in the second quarter, Masan has opened 41 Phuc Long Kiosks in VinMart+ locations as of July 21, with plans to bring the number to 1,000 by year end.

It has also been pushing online grocery sales via partnership with e-commerce platform Lazada, including a pilot 4-hour express delivery service from 14 VinMart supermarkets in Ho Chi Minh City and Hanoi.

Online sales accounted for 6.8 percent of VinMart sales in HCMC during June, compared to less than 1 percent in the first quarter.