Phuc Long earned over 1.2 trillion VND after 9 months.

Phuc Long Heritage, the direct owner of the Phuc Long tea and coffee chain, achieved net revenue of VND 1,203 billion in the first nine months of 2024, a slight increase compared to the same period last year.

Phuc Long Heritage, the direct owner of the Phuc Long tea and coffee chain, achieved net revenue of VND 1,203 billion in the first nine months of 2024, a slight increase compared to the same period last year.

Masan Group (stock code MSN) recently released its business results report, showing that Phuc Long Heritage's net revenue reached VND 425 billion in the third quarter of 2024, an increase of nearly 13% compared to the same period last year, thanks to contributions from 21 new stores outside of WinCommerce that opened during the same quarter. This result contributed approximately 2% to the Group's total revenue of VND 21,487 billion.

Phuc Long Heritage's gross profit for this period reached VND 270 billion, a 10% increase compared to VND 246 billion in the same period last year. The gross profit margin accordingly reached 63.5%, a slight change from 65% in the same period. EBITDA (earnings before tax, interest, depreciation, and amortization) reached VND 69 billion, a decrease of 11% compared to VND 78 billion achieved in the same period of 2023.

For the first nine months of the year, Masan reported that its Phuc Long tea and coffee chain generated VND 1,203 billion in revenue and VND 779 billion in gross profit, both up 4% year-on-year. The gross profit margin for the first three quarters reached 65%, a negligible difference from the same period last year. EBITDA declined by more than 2% year-on-year in 2023, falling to VND 201 billion.

In the documents presented to this year's annual general meeting of shareholders, Phuc Long Heritage projected revenue of VND 1,790-2,170 billion, representing a growth of 17% to 41% compared to the same period last year. Thus, Phuc Long Heritage has already achieved approximately 55%-67% of its revenue target after half a year.

Masan's leadership stated that Phuc Long's goal this year is to differentiate itself through a strategic orientation of "high quality at affordable prices," offering high-quality products while still reaching new consumers . The stores currently focus on tea products to leverage the brand's strengths, but are also developing plans to expand their coffee product range to increase customer purchase frequency.

This chain plans to open 30 to 60 new stores outside the WinCommerce system, focusing on Hanoi and Ho Chi Minh City. Additionally, the chain intends to integrate its loyalty program into the Win membership system to provide benefits to customers and diversify revenue streams.

"Phuc Long will improve sales productivity through marketing projects at local stores, nationwide promotional programs, and seasonal programs to attract new young customers," the business plan report states.

In the second quarter of 2024, Phuc Long tea and coffee chain recorded net revenue of VND 391 billion, a 5% increase compared to the same period last year. Gross profit reached VND 263 billion, a 10% increase compared to VND 238 billion in the same period. EBITDA reached VND 71 billion, a 12% increase compared to the same period last year.

Phuc Long currently has 174 stores nationwide. Revenue from stores outside of WinCommerce maintained stable growth, increasing by 2% compared to Q2/2024.

Source: https://baodautu.vn/chuoi-tra-va-ca-phe-phuc-long-thu-hon-1203-ty-dong-d228243.html