Besides pesticides, rice products contributed VND1.32 trillion, 33% of the total, while seeds and seedlings brought in more than VND355 billion, representing 8.7%. The other activities provided over VND89 billion.

Overall, the group obtained VND254 billion in pre-tax profit while its after-tax profit rose 23% year-on-year to VND196 billion, exceeding its first-half target by 17%.

Loc Troi Group listed more than 67 million shares on the Market for Unlisted Public Companies (UPCoM) late last month. The reference price for its shares began at VND55,000 (US$2.4) per share, giving the company a market capitalization of roughly VND3.7 trillion.

The group plans to pay cash dividends of 30% late in quarter three or early in quarter four, or earlier than previous years, according to a profit distribution plan approved by its shareholders in April.

The move is to comply with regulations and safeguard the interests of its investors after its listing on the stock exchange, said Huynh Van Thon, board chairman and general director of the group.

Founded in 1993 and formerly known as An Giang Plant Protection Joint Stock Company, Loc Troi Group has been a pioneer in building value chain models for sustainable rice production. Its engineers have established links with 25,000 farmers to re-organize production and provide seeds and agricultural inputs for some 60,000 hectares of rice fields, according to the Vietnam News Agency.