Hoang Anh Gia Lai (HAG) earns VND108 billion profit in February 2023Thursday, March 16,2023
AsemconnectVietnam - Hoang Anh Gia Lai Joint Stock Company (stock code HAG - HOSE) has just announced its production and business situation in February 2023.
The company said that in the context that pork prices in the domestic market remained low, it was almost unprofitable, but banana prices remained high (USD12/barrel) along with output equivalent in the same period, so the whole February profit mainly comes from bananas.
As a result, total revenue in February 2023 of HAG reached VND665 billion.
In which, the livestock industry reached VND212 billion, the consumption volume reached 41,689 pigs. The fruit industry reached VND210 billion, the output reached 19,345 tons (bananas produced 14,204 tons and bananas used for animal feed production reached 5,141 tons). Ancillary industry reached VND243 billion, this is also the industry that brought the highest revenue of HAG in February.
After deducting expenses, the company announced after-tax profit of VND108 billion.
In a recent sharing, Mr. Doan Nguyen Duc, Chairman of HAGL, said that the pig industry is still in a state of low prices and weak purchasing power. With this situation, farmers will lose money and lead to abandonment and oversold phenomenon. Therefore, Mr. Duc assessed that the cycle repeats that the price will then increase again when there is a shortage of supply. It is expected that April - May will recover.
In addition, in 2023, HAG plans to plant an additional 2,000 hectares of corn and organize the planting of vegetables and fruits in Da Lat. In which, 60 kinds of vegetables and fruits will be supplied to the BapiFood chain. At the same time, the Company is also building a packaging factory. It is expected that April 15 will launch HAG's fruit and vegetable products to the market.
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