Bau Duc continues to receive good news thanks to banana trees

(Dan Tri Newspaper) - Chairman Duc believes that HAGL has survived thanks to bananas over the years. He even jokingly suggested sculpting a statue of a banana tree as a token of gratitude, because it was the banana tree that "saved" HAGL.

Hoang Anh Gia Lai Joint Stock Company (HAGL, stock code: HAG) announced its Q3 report, recording net revenue of VND 1,895 billion, an increase of 32% compared to the same period in 2024.

Of that, the fruit segment continued to contribute the majority of revenue with VND 1,419 billion, an increase of 61% compared to the same period last year. Revenue from the sale of other products and goods also recorded VND 428 billion, an increase of 49%.

Conversely, the pork segment generated revenue of nearly 40 billion VND, a decrease of 83% compared to the same period last year.

After deducting expenses, the company's consolidated after-tax profit for the third quarter reached VND 432 billion, a 23% increase compared to the same period last year.

For the first nine months of the year, net revenue reached over VND 5,600 billion, a 34% increase compared to the same period in 2024. After-tax profit reached VND 1,312 billion, a strong 54% increase. HAGL's growth was primarily driven by banana exports. Meanwhile, revenue from the pork segment decreased by more than 79% over the nine months.

Chairman Duc at Hoang Anh Gia Lai's banana packaging facility (Photo: DT).

In a recent statement, Mr. Doan Nguyen Duc (Chairman Duc) said that, arguably, HAGL has survived thanks to bananas over the years; it was the banana tree that "saved" HAGL.

It is noted that Hoang Anh Gia Lai exports hundreds of thousands of tons of bananas annually, mainly to China. In this market, export prices are fixed weekly. In addition, Mr. Duc also exports bananas to other major markets such as South Korea and Japan, with prices fixed stably on an annual basis. At times, the company earned up to 17 billion VND per day from bananas.

As of September 30th, HAGL's total assets reached VND 27,744 billion, a 25% increase compared to the beginning of the year. Liabilities also increased by 12% to VND 14,460 billion. Total borrowings stood at VND 8,371 billion.

Source: https://dantri.com.vn/kinh-doanh/bau-duc-tiep-tiep-don-tin-vui-nho-cay-chuoi-20251021142555226.htm