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Vinh Hoan (VHC) wants to expand farming area by 80,960 m2 in An Giang 

 Friday, March 3,2023

AsemconnectVietnam - Vinh Hoan JSC (stock code VHC - HOSE) approved the plan to buy land fund to serve aquaculture in An Giang province.

Specifically, Vinh Hoan approved the transfer of land use rights for aquaculture in Nhon My commune and Long Giang commune, Cho Moi district, An Giang province with an area of 80,960 m2, the transfer amount is nearly VND15.2 billion.
In terms of business activities, in the fourth quarter of 2022, Vinh Hoan recorded revenue of VND2,484.09 billion, down 7.8% over the same period and profit after tax recorded VND199.56 billion, down 56 .4% over the same period. In which, gross profit margin decreased from 23.8% to 19.1%.
During the period, due to a sharp decrease in gross profit margin, gross profit decreased by 26.2% over the same period, corresponding to a decrease of VND168.19 billion to VND474.03 billion; financial revenue increased by 93.7%, equivalent to VND57.07 billion to VND117.95 billion; financial expenses increased by 750%, equivalent to an increase of VND120.53 billion to VND136.6 billion; selling and administrative expenses increased by 43.2%, respectively increased by VND66.81 billion to VND221.33 billion and other activities did not change significantly.
The company explained the reason for the decrease in profit during the period due to the decrease in sales volume and production volume, and the increase in raw material and production costs, leading to a decrease of 56.4% in profit to VND199.56 billion. .
Accumulated in 2022, Vinh Hoan recorded revenue of VND13,239.42 billion, up 46.2% over the same period and profit after tax recorded VND2,014.58 billion, up 82.1%.
In 2022, it is worth noting that financial revenue increased by 135.1% over the same period, corresponding to an increase of VND263.82 billion to VND459.15 billion; financial expenses increased by 271%, equivalent to an increase of VND289.16 billion to VND395.88 billion.
The company notes, the increase in financial revenue mainly recorded the realized exchange rate gain of VND363.3 billion over the same period of VND80.7 billion. In addition, financial expenses increased mainly due to loss and provision for securities investment of VND85.6 billion over the same period not recorded, exchange rate losses and high financial expenses.
In 2022, the Company plans to achieve revenue of VND13,000 billion and profit after tax of VND1,600 billion, up 43.6% and 45.6% respectively compared to the implementation in 2021. Thus, at the end of 2022, the company completed 125.9% of the year profit plan.
Source: VITIC/Tinnhanhchungkhoan


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