Hanoi Beer profits badly hit by Covid-19
- Visit Vietnam Insider’s homepage for more stories
The producer of Hanoi Beer expects sales to be badly hit by the Covid-19 pandemic this year and profits to fall to a 10-year low as a result.
The Hanoi Beer Alcohol and Beverage Jsc forecasts post-tax profits of VND255 billion ($11 million), down 59 percent from 2020.
Habeco said in a report that tourism companies, hotels and restaurants continue to suffer due to Covid-19, and this would directly cause a decrease in consumption of alcoholic beverages.
Another difficulty it cited was the rising competition with many brewers introducing new products in the popular market segment in which Habeco mainly operates.
But it said it would strive to maintain its position as one of the biggest brewers in the northern and central regions.
This article was originally published in Vnexpress
Summit Ascent Selected for Inclusion in the MSCI Hong Kong Micro Cap Index
GROUNDWORK BIOAG RAISES $11 MILLION TO ADVANCE BIOAGRICULTURE GLOBALLY
Johnson Electric reports results for the year ended 31 March 2021
NetApp transforms Unified Partner Program to differentiate and position partners for success and increased profitability
Razer Becomes a Constituent of the MSCI Global Small Cap Indexes