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Hoang Anh Gia Lai (HAG) expects durian to help revenue increase dramatically in the last 2 quarters of 2024 

 Wednesday, March 20,2024

AsemconnectVietnam - In the first 2 months of 2024, Hoang Anh Gia Lai Joint Stock Company's revenue (code HAG) was flat compared to the same period. HAG expects that from August 2024, it will exploit a portion of the durian area to help revenue increase dramatically.

According to the newsletter updating HAG's production and business activities in January and February, the Company's net revenue reached VND1,043 billion. Of which, the fruit tree industry reached VND630 billion, consumption output reached 74,459 tons; The livestock industry reached VND201 billion with an output of 40,288 pigs and the supporting industry reached VND212 billion.
HAG said that the revenue of the fruit industry (banana) increased because the Company expanded the exploitation area, so the output of bananas for sale was higher, bringing revenue exceeding 55% compared to the same period in 2023.
For the livestock industry, because the market price in 2023 remains low, the Company is limited from increasing herds, leading to revenue in the first 2 months of 2024 not meeting expectations.
However, the total net revenue of the entire industry in the past 2 months still reached VND1,043 billion, so it is still equivalent to the net revenue of the same period in 2023.
HAG also expects that 2024 revenue will increase dramatically in the third and fourth quarters when it officially exploits a portion of the durian area. Specifically, durian grown in Vietnam (main crop) will have revenue in August. - 9 and durian grown in Laos (collected off-season) will have revenue from October to December.
On March 4, 2024, Lien Viet Post Commercial Joint Stock Bank (LPBank - stock code LPB) and Hoang Anh Gia Lai signed a sponsorship contract of VND 5,000 billion, prioritizing investment in development-oriented green agriculture. Banking development is associated with LPBank's mission of developing green credit - green banking.
In phase 1, LPBank will disburse VND3,000 billion to promote investment in new planting, care and development of three key products including: bananas, durian and pig farming. At the same time, LPBank will send representatives to join the Board of Directors of HAGL Group to directly support, advice, and improve the Company's management capacity and operational efficiency.
Source: VITIC/Tinnhanhchungkhoan


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