Saigon Beer - Alcohol - Beverage Corporation (Sabeco - code SAB) has just announced its consolidated financial report for the third quarter of 2024 with revenue reaching more than VND 7,700 billion, an increase of VND 200 billion over the same period; gross profit increased slightly over the same period last year, reaching more than VND 2,278 billion.

After deducting expenses, Sabeco achieved after-tax profit of VND 1,161 billion, up 8.1% over the same period in 2023.

In the first 9 months of the year, Saigon Beer achieved VND22,940 billion in revenue and VND3,504 billion in profit after tax, up 5% and nearly 7% respectively over the same period last year.

Of which, net revenue from sales and service provision in the third quarter reached more than VND 7,670 billion, an increase of VND 256 billion over the same period in 2023. In the first 9 months, this figure increased to nearly VND 1,000 billion.

According to Sabeco, net revenue was higher than the same period last year mainly due to the positive impact of price increases, an improved economy amid strict enforcement of Decree 100 and increasingly fierce competition. In addition, Sabeco's net profit was still higher due to higher gross profit and lower selling expenses, which partly offset lower interest income from deposits.

According to the third quarter financial report, Sabeco recorded sales expenses of VND2,612 billion, down nearly 17% over the same period.

Similarly, the northern beer giant, Hanoi Beer - Alcohol - Beverage Corporation (Habeco - code BHN), also recorded an increase in business results in the third quarter of 2024.

Of which, revenue reached VND2,348 billion, a slight increase of 2.1% over the same period last year; after deducting cost of goods sold, Habeco's gross profit increased by VND53 billion (equivalent to an increase of 9%) over the same period.

During the period, Habeco's financial revenue decreased by 24% to over VND44 billion, while fixed costs increased slightly. However, Habeco's net profit still reached over VND124 billion, up 37% over the same period.

Accumulated in the first 9 months of the year, Habeco's net revenue was nearly 6,000 billion VND, up 8% over the same period; but due to a 17% increase in selling expenses, up to nearly 972 billion VND, net profit decreased slightly by 2% to below 273 billion VND.

According to Habeco, product consumption in the third quarter improved in the context of the domestic economy gradually becoming more stable than last year, while the company is also controlling production and business costs well.

With this result, Habeco exceeded 43% of the profit plan and achieved nearly 91% of the annual revenue target.

At the end of the trading session on October 30, SAB shares reached 55,200 VND/share; BHN shares reached 39,000 VND/share.

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