PAN Group net revenues edge down

Friday, Jan 31, 2020 11:35

A confectionary production line at Bibica JSC, a member of the PAN Group. — Photo courtesy of the group

The PAN Group Joint Stock Company’s consolidated net revenue was marginally down last year at VND7.78 trillion (US$335.4 million).

Its agriculture business contributed VND5.24 trillion ($255.77 million), or two thirds, of the revenue and the food business for the rest.

The consolidated profit after tax was VND451 billion ($19.4 million), a year-on-year decrease of 20 per cent, though profit from its core business grew by 15 per cent.

But the profit margin improved from 18 per cent to 21 per cent thanks to an improvement in the margin of subsidiary Sao Ta Foods JSC and a shift from raw cashew to processed cashew by Long An Food Processing Export Joint Stock Company, another subsidiary.

Last year, the group invested in expanding another 90ha of shrimp farm in Soc Trang Province, completed the seed centre in Lam Dong Province's Don Duong District, opened the Bibica Mien Tay factory with a capacity of 10,000 tonnes a year, opened the Dong Thap Industrial Centre for Seed and Agricultural Product Processing with a capacity of 30,000 tonnes of seeds and 85,000 tonnes of rice a year.

These new facilities use modern equipment and technologies imported from the US, EU and Japan, and promise great growth potential in the coming years.

The group also focuses on organic agricultural. — VNS

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