Vissan Joint Stock Company targets a pre-tax profit of VND179 billion on revenues of VND4.6 trillion (US$204.5 million) this year, respectively 8 per cent and 18 per cent higher year-on-year.

Speaking at the annual shareholders meeting in HCM City on Wednesday, Nguyen Ngoc An, the company’s general director, said the livestock sector would be more positive this year than last year, with more pig farms resuming production, sow numbers controlled and growing at a steady rate and a greater balance between supply and demand.

Pork prices are forecast to increase, he said.

Consumers would buy more and more food from modern trade channels and the retail market thus has a lot of potential for development, he said.

An said to meet the target this year the company would increase supply of pork, beef and processed foods this year by 15-20 per cent, he said.

It would increase sales of fresh meat products through modern distribution channels, convenience stores and the hotel, restaurant and catering sector, he said.

It plans to develop new fresh meat products targeting high-income customers, and open at least one shop targeting this segment this year, he said.

Besides retaining a strong foothold in traditional markets, the company would expand its presence not only in HCM City but also other cities and provinces, he said.

Speaking about acquiring modern technology for its slaughterhouse and food processing plant, he said the company would identify a contractor to supply equipment that can slaughter 360 pigs every hour.

Nguyen Phuc Khoa, Vissan’s chairman, said with regard to Sai Gon Trading Group (Satra)’s divestment of its stakes in Vissan, it has to wait for directions from the city.

Satra owns 67.76 per cent of Vissan. — VNS