AsemconnectVietnam - Thanh Thanh Cong Bien Hoa Joint Stock Company (TTC AgriS, Hose: SBT) completed 65% of the revenue plan and 56% of the pre-tax profit plan in just the first 2 quarters of the 2023-2024 fiscal year.

At the end of the first 6 months of the 2023-2024 fiscal year, TTC AgriS recorded accumulated net revenue of VND13,387 billion, up 9% over the same period, completing 65% of the year's plan.
Accumulated pre-tax profit for 6 months reached VND478 billion, up 11% over the same period, completing 56% of the year plan. Consumption output in the second quarter recorded growth compared to the first quarter, thus bringing the total accumulated consumption output in 6 months to nearly 640 thousand tons.
In particular, accumulated B2C channel output increased by more than 10% over the same period. The B2B channel maintained output over the same period, however, there was a breakthrough growth in market share when the Customer portfolio reached nearly 2,700 customers, an increase of nearly 60% compared to the end of the 2022-2023 fiscal year.
In the second quarter alone, the Company's gross profit reached VND745 billion, an increase of more than 40% over the same period. Gross profit margin is also a bright spot with positive improvements reaching ~11%, up 37% over the same period. Pre-tax profit reached VND225 billion, up 50% over the same period. Profit after tax reached VND169 billion, an increase of more than 42% over the same period.
As of December 31, 2023, the scale of TTC AgriS has also been expanded with total assets reaching VND34,137 billion (~ USD1.4 billion), an increase of 14% compared to the beginning of the year.
In the second quarter, selling expenses and corporate management expenses also recorded increases of 39% and 26%, respectively, mainly due to TTC AgriS increasing investment in production and business infrastructure for development. nutritional drink product lines, this is an important link for the Company to adhere to its goal of becoming a high-tech agricultural solution provider, participating in the global F&B value chain, focusing on promoting F&B business and development of value-added products.
Export revenue increased by 23%, successfully bringing TTC AgriS brand products to more than 50 markets globally
In the first 6 months of the 2023-2024 fiscal year, TTC AgriS's export channel recorded revenue of more than VND4,700 billion, an increase of 23% over the same period.
Besides sugar products, the Company has also successfully brought TTC AgriS brand natural nutritional products to more than 50 markets globally, an increase of more than 70% compared to FY 2022-2023, including many Potential new markets such as Russia, Macau,... and especially difficult traditional markets such as Europe, America, Korea, Singapore,...
TTC AgriS has successfully developed a diverse product portfolio with 88 sugar products, 19 sugar-adjacent products, 8 beverage product lines and the new appearance of 47 coconut products (Cocoxim Coconut Water) , Momcooks coconut milk,...) and 21 other products (Solar power, South American Smiley bananas, exported Dole bananas,...) demonstrate solid capacity to continue the journey of expanding customer segments, conquering new markets and affirming its position as the region's leading multinational agricultural enterprise.
For the 2022-2023 year, TTC AgriS is also the first Vietnamese unit to be honored with Bonsucro certification - demonstrating its commitment to environmental and social sustainability for sugarcane.
During the past time, TTC AgriS has focused on researching and launching new products to maximize the crop value chain, specifically natural nutritional beverage products. At the same time, the Company promotes building an internal foundation with training and development of the sales team, especially deploying specialized sales teams for the beverage industry (Beverage) to promote business efficiency.
Pursuing the goal of multi-channel - multi-touch points, on January 15, 2024, TTC AgriS officially went live with Web orders to increase customer experience, helping customers access TTC's products from street to F&B. Fastest and best AgriS. At the same time, TTC AgriS builds sales channels on e-commerce platforms such as Lazada, Shopee, Tiki, Tiktok,...
Successfully building a Web order is considered a step forward in the strategy of participating in the global F&B value chain, gradually realizing the goal of expanding and investing in development for potential new markets, further improve the quality of products and services, maintain its 55-year brand position in the market and soon realize the revenue target of 60,000 billion in agricultural products by 2030.
N.Nga
Source: VITIC/Tinnhanhchungkhoan