Drunk driving laws, coronavirus leave brewer Sabeco groggy – VnExpress International


By Dat Nguyen  &nbspJune 22, 2020 | 10:36 am GMT+7
Drunk driving laws, coronavirus leave brewer Sabeco groggy  Drunk driving laws, coronavirus leave brewer Sabeco groggy - VnExpress International WEBdownload 1592792984 9270 1592795740

Men drink Sabeco’s Saigon Beer in a restaurant in Hanoi. Photo by Reuters/Kham.

With stringent drunk-driving regulations and the coronavirus impacting beer sales, Sabeco has lowered its revenue target for this year to VND23.8 trillion ($1 billion).

It represents a revenue drop of 37 percent from last year for Vietnam’s largest brewer and its lowest sales figure since 2012.

The brewer of Saigon Beer also reduced its post-tax profit target by 39 percent to VND3.2 trillion ($138 million), lowest in six years. 

Sabeco’s board said in a statement that tightened regulations on drunk driving are a major challenge to the alcoholic drinks market.

The Covid-19 pandemic, which caused the closure of bars and restaurants in March and April, also had a negative impact on the company’s business performance, it said.

Sabeco, a subsidiary of Thai beverage giant ThaiBev, saw profits hitting a seven-year low of VND720 billion ($31 million) in the first quarter of this year.

In the first five months the country’s beer production fell 24.5 percent year-on-year to 1.4 billion liters, according to the General Statistics Office.

e.VnExpress

What's Your Reaction?

Cry Cry
0
Cry
Cute Cute
0
Cute
Damn Damn
0
Damn
Dislike Dislike
0
Dislike
Like Like
0
Like
Lol Lol
0
Lol
Love Love
0
Love
Win Win
0
Win
WTF WTF
0
WTF

Comments 0

Your email address will not be published. Required fields are marked *

Drunk driving laws, coronavirus leave brewer Sabeco groggy – VnExpress International

log in

Become a part of our community!

reset password

Back to
log in
error: Content is protected !!
Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Open List
Open List
Ranked List
Ranked List
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF