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.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData