HCM CITY — Masan Group Corporation has set itself a target of increasing sales and net profits by 15-20 per cent to over VNĐ50 trillion (US$2.19 billion) and VNĐ3.2-3.4 trillion this year.

At its shareholders meeting in HCM City on Monday, MSN reported sales of VNĐ43.29 trillion last year, an increase of 41 per cent.

Its net profit increased to VNĐ2.79 trillion from VNĐ1.48 trillion, beating its guidance of VNĐ2.4 billion.

In the meat value chain, MSN has integrated and transformed Proconco and ANCO’s animal feed businesses into a single “FMCG-like” platform, resulting in VNĐ24.4 trillion in sales last year.

With groundbreaking done for its 10,000-sow Nghệ An pig farm and a strategic partnership with Vissan, Masan has put in place key building blocks for developing an integrated meat value chain.

This year Masan Nutri-Science’s net revenues are expected to grow by 20-30 per cent.

Masan has also developed a full-fledged branded food and beverage franchise that has been delivering a steady stream of free cash flows for the past three years.

Since developing market leading positions in key food categories such as seasonings and convenience foods, Masan has gone on to build a beverage business.

Bottled beverages are now Masan’s fastest growing category, with 69 per cent growth in non-alcoholic bottled beverages and 47 per cent growth in beer last year.

Masan Resources has emerged as a globally significant tungsten producer, delivering profitability and more than 50 per cent revenue growth last year despite a depressed commodity price environment.

This year Masan Resources is expected to grow net revenues by 22-27 per cent and earnings by 37-164 per cent depending on commodity prices.

Last year Masan’s bottom line got a significant boost from Techcombank’ s turnaround, which delivered nearly two times growth in profits, as the bank progressed significantly with its provisioning schedule and a growing retail franchise.

This year MSN expects the bank to continue with its provisioning efforts to emerge with one of the cleanest balance sheet in the industry.

This year Masan Consumer is expected to contribute 60 per cent of net sales and earnings, with Masan Nutri-Science and Masan Resources accounting for 30 per cent and 10 per cent.

The shareholders approved a 11 per cent cash dividend for 2016 and the remaining VNĐ7 trillion profit will be retained entirely. — VNS