Dabaco Group Joint Stock Company recorded its highest ever first quarterly profit in Q1 this year, reaching VND340 billion (US$14.5 million).

This profit even exceeded last year’s total profit of VND305 billion. In Q1, the group reported revenue of VND3.2 trillion.

This year, Dabaco targets to collect VND13.2 trillion in revenue and VND512 billion in after-tax profit. Thus in Q1, the company achieved 27 per cent of its revenue target and 66 per cent of its profit target for the whole year.

Dabaco is multi field group which specialises mainly in animal feed, cattle and poultry breeding and food processing.

The group also invests in building industrial zones, urban zone facilities and infrastructure and real estate. It is among the ten biggest enterprises specialising in animal feed nationwide.

In the first quarter of 2020, Dabaco boosted the production of fresh chicken eggs, processed chicken eggs, processed food from meat, meeting the demand for essential goods amid the COVID-19 pandemic. This helped the business increase its after-tax profit by 17 times over the same period last year.

The group has also completed and put into operation a number of projects such as DeVi instant egg processing factory, chicken breeding area and animal feed factory in southern Binh Phuoc Province. — VNS