Thursday, May 30,2024 - 22:26 GMT+7  Việt Nam EngLish 

Masan MeatLife (MML) approved to pour another VND740 billion into MeatDeli HN 

 Wednesday, March 8,2023

AsemconnectVietnam - Masan MeatLife JSC (stock code MML - UPCoM) has just approved a plan to increase capital in MeatDeli HN Co., Ltd.

Specifically, Masan MeatLife will contribute an additional VND740 billion to MeatDeli HN - a wholly owned subsidiary of MML. The additional capital contribution to MEATDeli HN can be made in several installments, based on the performance of MEATDeli HN and the Company's cash source plan.
The Board of Directors will authorize Mr. Danny Le, Chairman of the Board of Directors and/or Mr. Nguyen Quoc Trung, General Director of the Company to decide the specific time and amount of additional contributions in each installment.
If Masan MeatLife's capital contribution is successful, the charter capital of MeatDeli HN will be raised from VND1,296 billion to VND2,036 billion.
In 2023, the Company expects revenue from VND8,500 - VND9,000 billion, up 78% - 88% compared to the previous year. In which, the growth driver comes from the expansion of the pork and chicken product portfolio, especially processed meat, and the strengthening of distribution capacity through the WinCommerce - WCM channel (the narrowing of the price gap) with the traditional market, thanks to the WIN membership program, customers will be encouraged to try it out and switch from the traditional trade channel to the modern trade channel).
Profits are expected to improve thanks to higher utilization rates, increased sales of processed meat, and stronger cost controls. The company will also continue efforts to optimize logistics costs and indirect sales in 2023.
Source: VITIC/Tinnhanhchungkhoan


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