Mr. Doan Nguyen Duc (Bau Duc) - Chairman of the Board of Directors of Hoang Anh Gia Lai Joint Stock Company - has just sent a letter to shareholders. In the letter, Mr. Duc revealed that this year, the expected adjusted profit will increase to 1,500 billion VND. In addition, in the third quarter, when completing the necessary procedures, the company will be allowed to record an extraordinary income of more than 1,000 billion VND.
This year's after-tax profit is likely to reach VND2,500 billion - a record for Hoang Anh Gia Lai.
Mr. Duc's estimate was made in the first half of this year's calculation, the company's realized profit reached more than 60% of the year's plan. Durian has not generated revenue yet, but bananas have had a high and stable selling price since the beginning of the year, so they have contributed positively to this result.
Mr. Duc expects big profits from Hoang Anh Gia Lai (Photo: HAG).
In the second half of the year, Mr. Duc said that the company will record additional revenue from durian - a highly anticipated field. On that basis, the Board of Directors is reviewing and adjusting the annual profit plan. In addition, Mr. Duc also stated that after working with and receiving support commitments from a number of credit institutions, the company plans to implement an investment plan to plant 2,000 hectares of new coffee and tea and 2,000 hectares of mulberry in key planning areas from July.
According to the original plan, this year, Hoang Anh Gia Lai set a revenue target of more than VND5,500 billion, down 5%, mostly from bananas and durian. After-tax profit is expected to be VND1,114 billion, up about 5% compared to last year.
Regarding the plan to grow mulberry to raise silkworms and develop tea coffee, Mr. Duc said Hoang Anh Gia Lai chose a tea coffee variety that can only be found in Cau Dat (Da Lat) and some areas in Dien Bien , requiring an altitude of over 1,000m. The group will plant it on the red soil plateau of Laos.
According to the plan, Hoang Anh Gia Lai will plant 4,000 hectares of Arabica coffee and 2,000 hectares of mulberry for silk. Mr. Duc said that Arabica coffee is currently priced at 9,000 USD/ton, double that of regular coffee and Vietnam only has 10% of the area for growing this type. Another reason is that mulberry or coffee has a short cultivation and harvest time, making it easy to create a continuous cash flow.
Source: https://dantri.com.vn/kinh-doanh/bau-duc-viet-thu-he-lo-ve-khoan-thu-nhap-bat-thuong-hon-1000-ty-dong-20250704093619345.htm
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