Vietnamese breweries report revenue decline

Several breweries in Vietnam have released their business results for the last quarter of 2023, which indicated falling year-on-year revenue. Saigon - Hanoi Beer Corporation reported its net revenue at VND150.5 billion (US$6.1 million) last quarter, edging down three percent year on year. Its after-tax profit reached over VND7 billion ($284,551) in the period, plunging 32 percent. In January-September 2023, Sabeco generated VND22.1 trillion ($898.4 million) in revenue and nearly VND3.3 trillion ($134.1 million) in after-tax profits, down 12 and 25 percent, respectively. Many breweries blamed their revenue and profit decline on falling consumption given the economic downturn and Vietnam’s heavy fines for alcohol-impaired drivers.