HAGL's profit reaches over $18.5m in first five months

Tuesday, Jun 21, 2022 16:09

Workers wrapping plastic around bunches of bananas. — Photo hagl.com.vn

Hoang Anh Gia Lai JSC (HoSE: HAG) just announced its business results in the first five months of the year with three main sectors - livestock, fruit and supporting businesses.

Accordingly, it reported a revenue of VND326 billion (US$14 million) in the livestock industry, VND866 billion in the fruit sector and VND283 billion in supporting business.

Therefore, the total net revenue by the end of May 31 reached nearly VND1.5 trillion, with profit after tax of VND431 billion.

In the first five months, the livestock industry has completed nine clusters of barns to raise more than 27,000 breeding sows and 600,000 market hogs per year.

Hoang Anh Gia Lai (HAGL) also announced continuing investment in planting fruit trees on a land bank of about 10,000 ha in Viet Nam, Laos and Cambodia. Of which, banana trees are still the main tree with a planting area of ​​7,000 ha, including 5,000 ha of bananas that have been put into stable operation and 2,000 ha of new investment. The average planned yield is 50 tonnes per ha.

Besides the two main sectors, HAGL also maintains a number of other supporting businesses to maximise the advantage of raw materials in production.

In general, HAGL publishes the monthly business results in accordance with the commitment of the company’s Chairman at this year's General Meeting of Shareholders.

After a period of drastic restructuring, HAGL is gradually recovering and becoming profitable again, with two main industries - raising pigs and growing fruit trees.

According to the 2021 audited financial statements, HAGL recorded revenue of nearly VND2.2 trillion. Deducting expenses, its profit after tax was VND127 billion, with the holding company's net profit of more than VND203 billion.

Thereby, in five months, the profit recorded was 3.4 times higher than the figure of the whole of last year.

On the stock market, HAG shares are traded on the Ho Chi Minh Stock Exchange (HoSE) under supervision. On Tuesday morning, it hit the biggest daily gain of 7 per cent to VND7,700 per share. — VNS

Comments (0)