Saigon Beer - Alcohol - Beverage Corporation - Sabeco (Code: SAB) recorded revenue in the second quarter of 2024 of VND 8,086 billion, down 3% over the same period.
Cost of goods sold decreased at a slower rate, causing gross profit in the period to decrease by 2% to VND 2,440 billion. Gross profit margin was recorded to decrease to 30%.
Revenue in Q2/2024 remained flat but Sabeco (SAB) profit still grew. (Photo TL)
Notably, financial revenue in the second quarter decreased to VND266 billion, equivalent to a decrease of 25%, down to VND266 billion. The reason was the decrease in deposit interest during the period.
In return, other expenses during the period were also reduced. Specifically, financial expenses were reduced by more than half, to 8 billion VND. Sales expenses and business management expenses decreased to 902 billion and 176 billion VND, respectively.
Sabeco's after-tax profit in the second quarter was VND1,319 billion, VND109 billion higher than the same period last year thanks to reduced operating costs.
In the first 6 months of the year, Sabeco recorded revenue of VND 15,270 billion, profit after tax reached VND 2,343 billion. Compared to the 2024 business target, Sabeco has achieved 44% of the revenue target and 49% of the profit plan for the whole year.
At the end of the second quarter of 2024, the company's total assets reached VND 34,150 billion, an increase of VND 100 billion compared to the beginning of the year. Notably, the amount of cash deposited in banks is recorded at nearly VND 23,400 billion, equivalent to 69% of the company's total assets.
Source: https://www.congluan.vn/doanh-thu-quy-2-2024-di-ngang-loi-nhuan-ong-lon-nganh-bia-sabeco-sab-van-tang-truong-post305158.html
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