Greenfeed Vietnam - owner of the G Kitchen pork retail chain - suffered a net loss of nearly VND20 billion in the first half of this year, while last year it made a profit of more than VND169 billion.
This result was mentioned in the periodic information disclosure of Greenfeed Vietnam Joint Stock Company sent to the Hanoi Stock Exchange (HNX).
Previously, in 2021 and 2022, the company that owns the G Kitchen pork retail chain made huge profits. In 2021, Greenfeed Vietnam's after-tax profit was more than 617 billion VND, and this target for 2022 is more than 417 billion VND. In the first half of 2022, this company made a profit of more than 169 billion VND.
Compared to the end of 2022, Greenfeed Vietnam's equity decreased slightly to VND 3,543 billion. The debt-to-equity ratio was 1.56 times, corresponding to the debt scale at the end of the second quarter of this year being VND 5,527 billion, a decrease of nearly VND 600 billion compared to the beginning of the year.
Currently, this enterprise has a bond lot in circulation with a scale of 1,000 billion VND. This bond lot is an investment of the International Finance Corporation (IFC) under the World Bank for Greenfeed. In the first half of this year, Greenfeed Vietnam spent more than 32.5 billion VND to pay interest.
Greenfeed is one of the oldest units in the animal feed industry with a system of 10 factories in Vietnam, Cambodia, Myanmar and Laos, with a total capacity of over 2 million tons of products per year. From its position in the animal feed sector, Greenfeed gradually entered the livestock sector and invested 50 million USD to build a core pig breeding farm system. The company chose to follow the 3F model (closed food supply chain from farm to table).
In 2018, this enterprise launched the G brand of meat and pork products, distributed through large supermarket and food store chains such as Co.op Mart, Bach Hoa Xanh, Tops Market, Kingfoodmart... and the self-developed retail chain G Kitchen.
Minh Son
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