On October 24, Masan Group Corporation (stock code: MSN) announced its financial report for the third quarter of 2024.

Accordingly, Masan achieved net revenue of VND 21,487 billion, up 6.6% compared to the third quarter of 2023, thanks to sustainable growth from retail consumer businesses, helping to offset the restructuring of Masan MEATLife's (MML) farm chicken segment and the temporary disruption of Masan High-Tech Materials' (MHT) business operations.

WinCommerce (WCM) - a subsidiary operating WinMart supermarkets and Win stores - recorded a growth of 9.1% over the same period last year, reaching more than VND8,600 billion.

WinCommercer upgrades point of sale model, launches WinMaet Urban model

With a profit after tax of VND20 billion, this is also the first quarter since the COVID-19 pandemic that WinCommerce has made a profit, thanks to the new model specialized for urban areas (WIN stores) and rural areas (WinMart+ Rural stores) achieving a growth rate of existing stores (LFL) compared to the same period of 12.5% ​​and 11.5% respectively. The traditional store model also increased by 8%.

WinCommerce previously reported positive profits in June but did not disclose specific figures. WinMart stores posted positive operating profits while revenue growth was flat, largely due to improved loss ratios.

In the first 9 months, this modern retail chain achieved a revenue of about 24,404 billion VND, an increase of nearly 9% compared to the same period last year. On average, they recorded more than 89 billion VND in revenue per day.

Rich MEATDeli meat counter at WinMart supermarket

As of the end of September, WinCommerce operated 3,733 supermarkets and stores, opening 60 new points of sale in the third quarter.

In addition to WCM, the retail consumer business segment including Masan Consumer Corporation (MCH), Masan MEATLife (MML) and Phuc Long Heritage (PLH) maintained positive growth momentum along with higher profits from non-core activities. Of which, MCH achieved a revenue growth of 10.4% over the same period, reaching VND7,987 billion; MML recorded a slight increase in revenue of 1.7% over the same period, to VND1,936 billion.

PLH's net revenue increased 12.8% year-on-year to VND425 billion, mainly thanks to contributions from 21 new stores outside WCM opened in the same third quarter.

"In Q3/2024, WinCommerce and Masan MEATLife achieved positive profit after tax and are key drivers to maximize shareholder value. This trend will accelerate further as we continue to implement strategic initiatives in the medium term" - billionaire Nguyen Dang Quang, Chairman of Masan Group shared.

Source: https://nld.com.vn/chuoi-sieu-thi-cua-ti-phu-nguyen-dang-quang-bat-dau-mang-tien-ve-cho-me-196241024155827657.htm