PAN group shrugs of pandemic to achieve revenue, profit targets

Tuesday, Feb 02, 2021 08:00

At a factory belonging to Vinaseed, a subsidiary of the PAN Group. The PAN Group’s revenues and profits surpassed the targets it set for itself last year. — Photo courtesy of the company

The PAN Group (HOSE: PAN) has achieved its revenue and profit targets for 2020.

It reported after-tax profit of VND186 billion (about US$8.1 million) on revenues of VND8.338 trillion (nearly $362.5 million) last year, an increase of 7 per cent from 2019, with after-tax profit 23 per cent higher than the target approved at its annual general meeting of shareholders.

Shrimp exports accounted for the largest share of the revenues after growing by 20 per cent, the highest rate in the industry.

Seeds and other agricultural inputs, agricultural produce and confectionary also contributed considerably to sales.

It had five product groups recognised as National Brands last year, all typical value-added products sold both in the domestic and foreign markets.

The company made donations to support the fight against the Covid-19 pandemic and to the central region which was devastated by natural disasters, and launched an afforestation project in the central region. — VNS

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