Q1: Masan Consumer posts double-digit growth in revenue and profit

“Retail Supreme operates as a self-reinforcing growth engine as it scales,” said Truong Cong Thang, Chief Executive Officer of Masan Consumer.

“Our brands generate consumer demand at the point of sale, attracting more retailers to join the platform, thereby increasing SKU penetration per outlet and boosting revenue per store.

“In turn, revenue is reinvested back into brand building.

“This loop compounds over time, and Q1-2026 results are clear evidence.

“When our brand and retail platforms operate in sync, we have a clear, repeatable formula for medium-term growth.

“With Q2-2026 results expected to exceed targets, we are still in the early stages of what this model can deliver.”

Growth recorded across most channels

MCH reported net revenue of VND8.472 trillion (US$321.6 million) in Q1-2026, up 13.1 percent year on year, in line with its full-year 2026 growth target of 11–15 percent.

NPAT Pre-MI reached VND1.8 trillion ($68.3 million), up 11.5 percent year on year.

Growth was recorded across most sales channels, with the general trade (GT) channel returning to positive momentum, while all other channels maintained solid growth.

MCH posted revenue growth of 13.1 percent.

Based on preliminary April results, the company expects Q2-2026 revenue growth of at least 25 percent, implying first-half 2026 growth of around 20 percent year on year, exceeding the upper-end full-year target scenario of 15 percent.

Growth was recorded across most sales channels and categories: GT revenue rose 11 percent year on year as the positive impact of Retail Supreme became more evident; modern trade (MT) and international business posted solid double-digit growth; HORECA and e-commerce recorded triple-digit growth from a low base.

Gross margin remained stable at 46.7 percent, unchanged year on year, supported by a favorable product mix offsetting higher costs associated with product quality upgrades.

Price adjustments for certain premium fish sauce and seasoning products starting in early Q1-2026 also supported margin improvement compared with Q4-2025.

NPAT Pre-MI totaled VND1.8 trillion, up 11.5 percent year on year, corresponding to a net margin of 21.2 percent.

Profit growth lagged revenue growth mainly due to higher logistics and operating costs, which weighed on margins during the quarter.

On a per-share basis, NPAT Post-MI reached VND1,373 ($0.052) per share.

The increase in shares reflects the 2025 bonus share issuance (ratio 1,000:225); on an adjusted basis, EPS rose approximately 11.5 percent year on year.

In line with its commitment to delivering strong growth alongside attractive shareholder returns, MCH paid total cash dividends of VND5.27 trillion ($200 million), or VND5,000 ($0.19) per share, for 2025 in two tranches in July 2025 and January 2026.

For 2026, the annual general meeting of shareholders approved a maximum cash dividend of VND5,000 per share, with the timing and format to be determined by the Board of Directors, signaling confidence in the company’s earnings outlook.

2026 revenue forecast at VND33.8–35 trillion

MCH forecasts 2026 revenue of VND33.8–35 trillion ($1.28–1.33 billion), representing a double-digit growth rate of 11–15 percent.

The roll-out of Retail Supreme is expected to contribute around 30–40 percent of total growth, with the remainder driven by new products.

Accordingly, NPAT Pre-MI is projected to increase by 10–15 percent in 2026 to VND7.45–7.8 trillion ($282.85–296.13 million).

The firm's international business is expected to maintain strong growth, at least at mid-teens levels, by focusing on key markets such as the United States, Southeast Asia, Japan, and the European Union, with a portfolio spanning seasonings, convenience foods, and coffee.