May, 17 2014 09:04:19

Masan Group sees profits jump

HA NOI (VNS)— Masan Group, listed on the HCM City Stock Exchange as MSN, posted an aggregated profit of VND1.082 trillion, or US$51.5 million, in the first quarter of this year.

This is double the profit made in the same period last year.

According to the company's Q1 earnings, Masan had a turnover of VND2.715 trillion, or $129.2 million, a 77 per cent increase of nearly VND1.2 trillion, or $57 million, year over year.

The turnover mainly came from Masan Consumer which contributed VND2.275 trillion, or $108.3 million, a 48 per cent increase due to the growth in sales of instant food, spices and beverages.

Masan Consumer, a major member of the group, earned a net profit of VND492 billion, or $23.4 million, in Q1, nearly twice as high of the profit made during 2013's first quarter.

Nui Phao Mine, in which Masan Group has invested millions of dollars, started to generate revenue from the beginning of March. This was expected to help Masan stay on track to exceed $1 billion in earning revenue this year.

In Q1 this year, Nui Phao Mine brought Masan a turnover of VND440 billion, or 20.9 million.

Notably, Masan's report showed that the company's EBITDA (an indicator of financial performance which tracks earnings before interest, taxes, depreciation and amortisation) posted strong growth in the quarter, rising by 339 per cent to reach VND385 billion, or $18.3 million.

Masan Group is one of the largest private companies in Viet Nam operating in consumption and resources sectors, with a market capitalisation of more than 72 trillion, or $3.5 billion.

As of the end of March, Masan had assets worth VND14.8 trillion, or $704.7 million, and VND7.242 trillion, or $344.8 million, in cash in its balance sheet.

The shares of Masan were traded at VND91,500, or $4.34, a share yesterday. — VNS

Send Us Your Comments:
Your E-mail address:

VietNamNews may edit your comments and not all emails will be published.


Environmental issues hinder new rural areas Environmental issues hinder new rural areas

In the five years since the Government put in place Decision No 49/QD-TTg on 19 criteria for new-style rural areas for the 2010-20 period, the majority of communes across the nation fail to meet the 17th criterion on environment. Both local and central authorities find it difficult to fill all five norms, as set down.

Baby vaccinations remain a cause for concern Baby vaccinations remain a cause for concern

Parents are concerned about post-vaccine reactions after the recent death of babies after receiving Quinvaxem vaccine, although the Health Ministry has repeatedly confirmed the safety of the vaccine.

Photos strengthen confidence of Mong girls Photos strengthen confidence of Mong girls

Wearing her most beautiful dress, Vu Thi Vu smiles broadly as she shows to her friends one of her photos which are on display at the Can Chu Phin secondary school in Meo Vac district of northernmost Ha Giang Province.

Lack of fire safety a risk in high-rises Lack of fire safety a risk in high-rises

Negligence and ignorance of fire safety regulations by both investors and residents at high-rise buildings have again come to the fore following the latest blaze in Ha Noi.