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Sabeco posts biggest quarterly profit since acquisition by Thai firm

By Phuong Dong   July 28, 2022 | 01:13 am PT
Sabeco posts biggest quarterly profit since acquisition by Thai firm
Bottles of Sabeco's Saigon beer are seen at a restaurant bar in Hanoi, Vietnam December 18, 2017. Photo by Reuters/Kham
Vietnam's largest brewer Sabeco reported post-tax profits of VND1.79 trillion ($76.6 million) for the second quarter, the highest since ThaiBev acquired it in 2017.

It represented a 67 percent increase year-on-year, while revenues were up 25 percent to VND9 trillion.

The management said the lifting of social distancing restrictions, resumption of tourism and a general rise in consumption helped boost sales.

Profits for the first six months were VND3.03 trillion, 66 percent of the full-year target.

Thailand's largest beverage company bought a 54 percent stake in Sabeco, the maker of Saigon Beer, five years ago.

 
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