Retail giant Masan’s after-tax profit hits 274.62 million USD in 2019
Retail giant Masan Group posted an after-tax profit of more than 6.36 trillion VND (274.62 million USD) last year, a year-on-year rise of 13.2 percent.
Consumers choose meat at the fresh meat platform “MeatDeli” of another Masan’s subsidiary Masan MeatLife (MML) (Photo: VNA)Hanoi (VNA) – Retail giant Masan
Group posted an after-tax profit of more than 6.36 trillion VND (274.62 million
USD) last year, a year-on-year rise of 13.2 percent.
In Q4 2019, Masan Consumer Holdings, the group’s retail consumer business, recorded a revenue growth of 15 percent against the same period a year earlier and 20 percent quarter-on-quarter, respectively.
Meanwhile, unaudited financial statement showed that the fresh meat platform “MeatDeli” of another Masan’s subsidiary Masan MeatLife (MML) raked in nearly 330 billion VND in revenue after only one year since its establishment.
In December last year, conglomerate Vingroup entered into a share swap agreement to merge its retail and agriculture arms with Masan Consumer Holdings to create the country’s biggest retail company.
Vingroup will swap all shares in its retail’s arm VinCommerce into shares of the post-merger company. Masan Group will operate the new company, while Vingroup will be a shareholder.
The new company will own a distribution network of 2,800 VinMart+ stores, along with a system of 14 high-tech farms of VinEco.
In 2020, Masan Group is set to make a list of its high quality products and beverages and work to enhance the meat sector which is hoped to account for 20-25 percent of MML’s net revenue.
It will also devise a roadmap to bolster revenue of VinCommerce and digitalise its retail platforms./.
In Q4 2019, Masan Consumer Holdings, the group’s retail consumer business, recorded a revenue growth of 15 percent against the same period a year earlier and 20 percent quarter-on-quarter, respectively.
Meanwhile, unaudited financial statement showed that the fresh meat platform “MeatDeli” of another Masan’s subsidiary Masan MeatLife (MML) raked in nearly 330 billion VND in revenue after only one year since its establishment.
In December last year, conglomerate Vingroup entered into a share swap agreement to merge its retail and agriculture arms with Masan Consumer Holdings to create the country’s biggest retail company.
Vingroup will swap all shares in its retail’s arm VinCommerce into shares of the post-merger company. Masan Group will operate the new company, while Vingroup will be a shareholder.
The new company will own a distribution network of 2,800 VinMart+ stores, along with a system of 14 high-tech farms of VinEco.
In 2020, Masan Group is set to make a list of its high quality products and beverages and work to enhance the meat sector which is hoped to account for 20-25 percent of MML’s net revenue.
It will also devise a roadmap to bolster revenue of VinCommerce and digitalise its retail platforms./.
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