AsemconnectVietnam - Saigon - Central Beer Joint Stock Company (stock code SMB - HOSE) has just announced its financial statements for the third quarter and accumulated 9 months of 2023 with negative profit growth of 27%.

In the third quarter, SMB's net revenue reached VND340.4 billion, down 2% over the same period last year. Cost prices also decreased by 2% to VND244.2 billion, so the company's gross profit decreased correspondingly to VND96.2 billion.
This period, SMB's financial revenue was 16 times higher than the same period but only at VND217 million. Meanwhile, financial costs increased by 14% to nearly VND830 million; Business management costs increased by 18%, to VND23.8 billion; Selling expenses were slightly reduced to VND20.6 billion.
As a result, the Company's after-tax profit is VND41 billion in the third quarter of 2023, down 9% compared to the same period in 2022.
Accumulated in the first 9 months of 2023, SMB recorded net revenue of VND961.6 billion, but due to a simultaneous increase in costs, the business' after-tax profit was VND112.5 billion, down 27% over the same period last year.
As of the end of the third quarter, total corporate assets reached VND986 billion, a slight increase compared to the beginning of the year. Of which, SMB owns more than VND22 billion in cash and VND77 billion in cash equivalents; VND264.6 billion is short-term financial investment. Short-term receivables decreased by 22%, to VND28.6 billion and inventory decreased by 20.6%, to VND202.7 billion.
On the other side of the balance sheet, SMB's liabilities are VND396.3 billion, an increase of 6.6% compared to the beginning of the year. The positive point is that SMB has no long-term debt, while short-term debt is at VND67.9 billion, a slight decrease.
N.Nga
Source: VITIC/Tinnhanhchungkhoan