Masan’s Q2 profit doubles

The jump in profits was driven by improvements across its main businesses and a reduction in debts, it said in a press release.

Its revenues rose 8.2% to VND20.1 trillion, with key subsidiaries reporting strong growth.

Masan Consumer Corporation, a producer of seasoning products and beverages, saw sales jump by 14% to VND7.39 trillion.

For WinCommerce, the operator of Winmart retail stores, there was 9.2% growth to VND7.84 trillion, thanks to the new store format called WIN and Winmart+ Rural stores.

It now has 3,673 stores nationwide after adding 40 this year.

Beverage chain Phuc Long Heritage’s revenues increased by 5.3% to VND391 billion.

“Management continued to maintain a prudent approach” with four new stores added in the first half of this year, Masan said, adding that Phuc Long now has 163 stores.