HAGL Agrico, specially in rubber production, estimates to earn $22.4 million of pre-tax profit in the second quarter. — Photo vietstock.vn

HA NOI (Biz Hub) — The Hoang Anh Gia Lai International Agricultural Joint Stock Company (HAGL Agrico) has announced an estimated pre-tax profit of VND490 billion (US$22.4 million) in the second quarter this year.

The company has set itself the target of earning pre-tax profits of VND1.5 trillion ($68.8 million) this year and VND3.1 trillion ($142 million) in 2016.

In the first quarter of this year, the company recorded a pre-tax profit of VND107.2 billion ($4.9 million).

HAGL Agrico will launch its initial public offering on July 20. More than 700 million shares will be offered at an initial price of VND28,000 ($1.28) each.

The company, established in 2010, has charter capital of more than VND7 trillion ($321 million).

In 2013, it earned total revenue of VND240.9 billion ($11 million). In 2014, revenues fell slightly but were still quite high, totalling VND226.7 billion ($10.4 million). — VNS