The nation's largest beverage producer MSE-listed APU JSC’s regular meeting of shareholders recently took place. At the meeting, the board review on 2017 operational report was approved and the company statutes were amended, reports Market Info.
According to Erdenebileg Tseveenjav, CEO of APU JSC, the company produced 97.2 million liters of beverages of 164 types and sold 93.3 million liters in 2017. This demonstrates that the company’s production grew by four percent and sales volume by five percent compared to last year.
The sales revenue totalled MNT 234.6 billion in 2017, a 12.8 percent growth year-over-year, and net profit reached MNT 24.87 billion or MNT 23.4 per share , 8.7 times higher than the end of 2016.
As Mr. Erdenebileg highlighted, the mentioned parameters are results of only APU JSC, without the inclusion of all of its subsidiaries. The consolidated financial statement, which was issued for management needs, reveals that the company produced net profit of MNT 54 billion in 2017.
APU JSC plans to increase sales revenue to MNT 433.5 billion and net profit to MNT 57 billion, or MNT 54 earnings per share in 2018.
Market Info previously reported that the company will distribute a total of MNT 10.6 billion in dividends or MNT 10 per share, which is 42.8 percent of APU JSC’s net profit and the highest dividend distribution for the company.
According to officials, the company has finished M&A with Heineken; however, the financial consolidation has not been completed yet. Therefore, the company is now under an asset and business evaluation by PricewaterhouseCoopers. The company expects the evaluation results to have concrete reflection on the financial statement of the company.
In addition, APU JSC is adopting Enterprise Resource Planning system in its operation due to increased manufacturing and product types, and is planning to allocate MNT 10.3 billion for this purpose, informs Market Info.
Oyunbayar.N
The nation's largest beverage producer MSE-listed APU JSC’s regular meeting of shareholders recently took place. At the meeting, the board review on 2017 operational report was approved and the company statutes were amended, reports Market Info.
According to Erdenebileg Tseveenjav, CEO of APU JSC, the company produced 97.2 million liters of beverages of 164 types and sold 93.3 million liters in 2017. This demonstrates that the company’s production grew by four percent and sales volume by five percent compared to last year.
The sales revenue totalled MNT 234.6 billion in 2017, a 12.8 percent growth year-over-year, and net profit reached MNT 24.87 billion or MNT 23.4 per share , 8.7 times higher than the end of 2016.
As Mr. Erdenebileg highlighted, the mentioned parameters are results of only APU JSC, without the inclusion of all of its subsidiaries. The consolidated financial statement, which was issued for management needs, reveals that the company produced net profit of MNT 54 billion in 2017.
APU JSC plans to increase sales revenue to MNT 433.5 billion and net profit to MNT 57 billion, or MNT 54 earnings per share in 2018.
Market Info previously reported that the company will distribute a total of MNT 10.6 billion in dividends or MNT 10 per share, which is 42.8 percent of APU JSC’s net profit and the highest dividend distribution for the company.
According to officials, the company has finished M&A with Heineken; however, the financial consolidation has not been completed yet. Therefore, the company is now under an asset and business evaluation by PricewaterhouseCoopers. The company expects the evaluation results to have concrete reflection on the financial statement of the company.
In addition, APU JSC is adopting Enterprise Resource Planning system in its operation due to increased manufacturing and product types, and is planning to allocate MNT 10.3 billion for this purpose, informs Market Info.
Oyunbayar.N