Phuc Long Coffee & Tea’s profits rise after closing WinMart kiosks

A reduced convenience store kiosk footprint boosted Phuc Long Coffee & Tea’s third quarter profits by 33%, but the underperforming counters continue to hamper revenue growth

Masan Group has said closing underperforming Phuc Long Coffee & Tea kiosks within WinMart convenience stores has boosted the chain’s profitability, with EBITDA rising 33% year-on-year to VND 78bn ($3.2m) in the three months ended 30 September 2023.