PAN Group expects booming growth in the new period

Friday, Sep 09, 2022 16:27

PAN Group's leaders at the event. — Photo courtesy of the firm

PAN Group posted consolidated revenue of VND9.9 trillion (US$418 million) in the three quarters of the year, up 53 per cent over the same period last year.

Its after-tax profit reached VND537 billion, posting a 132 per cent year-on-year increase.

This information was released at its investor meeting held in Ha Noi on Thursday.

Speaking at the event, Nguyen Thi Tra My, CEO of PAN Group, said: “The group has successfully completed phase 1, which is the stage of building the foundation and creating the ecosystem. We are now ready to move on to the next phase: the booming phase - rapid growth and depth development across each of our core businesses.”

She said in the 2013-18 period, PAN focused on strong and fast growth based on merger and acquisition (M&A) deals. Since 2019, the group has concentrated on investment in in-depth development and expand production capacity,” she added.

The CEO also revealed a plan to have M&A deals in the fertiliser sector. However, they would choose a member company to implement the M&A. It could be PAN’s member company – Viet Nam Fumigation Company (VFC) to take advantages of its big agent system.

Truong Cong Cu, VFC’s General Director, said: “Fertiliser is our “dream” segment because in the agricultural industry there is always a trio of drugs - seeds - fertilisers. If we have all the three products, we will have an advantage. With the company’s strength, it is difficult to do it alone because the fertiliser business requires core competencies. So it needs PAN group’s support to fulfill this dream.”

Nguyen Anh Tuan, PAN’s Chief Finance Officer (CFO), said the group is also seeking partners for another member – Bibica in their development.

After Lotte’s capital divestment, PAN Group now owns 98 per cent of shares at Bibica.

"This is a favourable condition for us to look for a strategic partner in the confectionery industry to participate in Bibica, in order to upgrade Bibica's product range towards higher quality and more in line with market trends. At the same time, this partner should also have a large consumption market in the Asia-Pacific region. Up to now, there have been relatively positive signals. We are discussing with three partners and went through a few rounds of discussions," Tuan added.

He said that PAN Group also submitted an application for increasing its charter capital to the State Securities Commission of Viet Nam and is waiting for approval. — VNS

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