Hoang Anh Gia Lai (HAG) recorded VND660 billion net revenue in August, up 47%Friday, September 29,2023
AsemconnectVietnam - Hoang Anh Gia Lai Joint Stock Company (stock code HAG - HOSE) has just announced the Company's production and business activities in August 2023.
According to HAG, the Company recorded net revenue of VND660 billion (up more than 47% over the same period in 2022), of which the livestock industry reached VND182 billion, the fruit tree industry reached VND338 billion and the supporting industry reached VND140 billion. Regarding the consumption output of each industry, the livestock industry reached 32,584 pigs and 30,900 tons of bananas.
At the Investor Meeting Conference held on August 20 in Ho Chi Minh City, the majority of shareholders requested HAG to announce monthly business performance with two indicators: revenue and consumption output of industries. As for detailed information about the consolidated profits of each industry, HAG will update each quarter and announce it in the first month of the next quarter.
In the first half of 2023, Hoang Anh Gia Lai's net revenue reached VND3,144.9 billion, up 55% over the same period last year. However, corporate profit after tax decreased by 26%, reaching VND385.2 billion. Parent company shareholder profit reached VND382.3 billion.
The audit opinion emphasized that the Group's accumulated loss was more than VND2,959.4 billion, and the Group's short-term debt exceeded its short-term assets by an amount of VND2,004 billion. These indicate the existence of material uncertainties that may cast significant doubt about the Group's ability to continue as a going concern.
However, HAG's management said that the Group can repay debts when due and continue operating in the next accounting period.
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