VIETNAM: Masan Group posts Q1 profit rise
Vietnamese conglomerate Masan Group has posted a rise in first-quarter profits in part thanks to an improved performance from its consumer goods arm.
Pro-forma net profit for Masan's consumer division was up 89.6% to VND596bn (US$28m) as a result of higher revenues and gross margins.
Sales in the consumer business increased 48.3% to VND2.28bn. The group attributed the rise to "robust sales of instant noodles brands" and a "good consumer acceptance" of the breakfast brands.
Net profit for the group was up 12%. EBITDA for the group was also up at VND385bn versus VND88bn for the same period last year.
Private-equity group KKR owns a stake in Masan's consumer unit.. KKR acquired a 10% stake in Masan Consumer in 2011 and doubled its investment last year.
Click here for the full results.
- Rabobank's early view on Brexit impact on food
- How local model protects Nestle - interview
- Quorn Foods confident in prospects - interview
- Brexit sparks uncertainty for UK food - comment
- Nestle's focus on food for health - interview
- Nestle names new CEO
- Brexit – Live reaction from food industry
- Healthier food a major opportunity for food makers
- Brexit – UK farmers warn of food price spike
- Brexit – US confirms commitment to TTIP with EU
- Frozen Bakery Products Market by Type, Distribution Channel, & by Region - Global Trends & Forecast to 2020
- Top Trends in Snacks, Confectionery, and Desserts; Exploring consumer and innovation trends in key categories
- Fast Food in India
- Country Analysis Report: Saudi Arabia, In-depth PESTLE Insights
- Singapore Food and Drink Report Q3 2016