A file photo of a worker moving cartons of Saigon Beer. Photo: VNA
State-owned Sabeco, which controls more than half of Vietnam's beer market with its iconic Saigon brand, has reported a year-on-year increase of 28 percent in its net profit in 2015, to more than VND3.6 trillion (US$159.5 million).
The company's revenue grew 10 percent to over VND27.16 trillion ($1.2 billion), mostly from beer sales.
After an initial public offering in 2008, the government's stake was reduced to 89.59 percent. Dutch brewer Heineken owns around 5 percent.
Last year the company announced a plan to sell 40-60 percent of shares, at least to two investors.
The plan immediately attracted interest from many international brewers such as Japan's Asahi and Kirin, London-based SABMiller, and Thai Beverage Pcl.
However, Sabeco reportedly said later that it may not welcome foreign investors, fearing of a possible hostile takeover.
Vietnam’s beer production grew 10 percent to 3.4 billion liters last year and will hit 4-4.25 billion in 2020, according to figures from Vietnam Beer Alcohol Beverage Association.