Masan targets double-digit profit growth in Q2
🎯 MASAN Group Corporation has set a target of double-digit growth in the second quarter of 2023 after announcing promising business results in the first three months of this year.
📈 Its net revenue reached VND18,706 billion between January and March, an increase of 2.8% over the same period last year.
🔎 From January to March, #Vietnam experienced a slow start with its gross domestic product growth falling to 3.3%, the lowest in the last five years.
The consumer price index rose to 4.2%, indicating persistent inflationary pressures.
🔁 Meanwhile, the country’s import and export both reported declines of 14.7% and 11.9% year on year, respectively, signaling a reduction in the demand for Vietnamese products.
💰 In general, Masan’s operating results remained resilient despite a challenging macro-environment. The net profit was further dragged down by higher interest expenses of VND369 billion.