Profit statements

HAGL Earnings Hit Over $18.5 Million in First Five Months

VIETNAM, June 21 – Workers wrap plastic around bunches of bananas. Photo hagl.com.vn

HÀ NỘI — Hoàng Anh Gia Lai JSC (HoSE: HAG) has just announced its business results for the first five months of the year with three main sectors: livestock, fruits and support businesses.

As a result, he declared a turnover of VN326 billion ($14 million) in the animal husbandry industry, VN866 billion in the fruit sector and VN283 billion in the activities Support.

Consequently, the total net income at the end of May 31 reached nearly VNĐ1.5 trillion, with an after-tax profit of VNĐ431 billion.

In the first five months, the livestock industry completed nine groups of barns to raise over 27,000 breeding sows and 600,000 market pigs per year.

Hoàng Anh Gia Lai (HAGL) also announced the continuation of investments in the planting of fruit trees on a land reserve of approximately 10,000 ha in Việt Nam, Laos and Cambodia. Of which banana trees remain the main tree with a planting area of ​​7,000 ha, including 5,000 ha of banana trees put into stable operation and 2,000 ha of new investments. The expected average yield is 50 tonnes per ha.

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

In general, HAGL publishes monthly business results in accordance with the commitment of the company’s president 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: pig farming and fruit tree cultivation.

According to the 2021 audited financial statements, HAGL recorded revenues of almost VNĐ2.2 trillion. Net of expenses, its profit after tax was VNĐ127 billion, with a net profit of the holding company of over VNĐ203 billion.

Thus, in five months, the profit recorded was 3.4 times greater than the figure for the whole of last year.

On the stock market, HAG shares are traded on the Hồ Chí Minh Stock Exchange (HoSE) under supervision. On Tuesday morning, it hit the biggest daily gain of 7% at 7,700 VNĐ per share. VNS