Billionaires and tycoons make a lot of money by raising pigs and chickens.

Many agricultural businesses experienced positive growth in the third quarter of 2024 – Photo: QUANG DINH

Hoa Phat 's agricultural segment is experiencing strong growth.

Hoa Phat Group (HPG) is the largest steel group in Vietnam by market share. In the third quarter of this year, the group recorded a higher growth rate in its agricultural segment than in its steel segment.

Specifically, the report shows that billionaire Tran Dinh Long's group generated 3,022 billion VND in after-tax profit in the third quarter of 2024, a 51% increase compared to the same period last year.

For the first nine months of the year, Hoa Phat's after-tax profit reached VND 9,210 billion, a 140% increase compared to the same period last year. The main contributors to this result were steel and related products, accounting for 85%, followed by the agricultural sector.

However, while the steel sector saw a 42% increase in profit, the agricultural sector experienced a surge of 80% compared to the same period last year.

According to a representative from Hoa Phat, the number of pigs sold in the first nine months of 2024 reached 443,000, an increase of 34%. In the poultry farming sector, the company's egg production increased by 5%...

Hoang Anh Gia Lai Joint Stock Company (HAG), an agricultural enterprise, also announced its Q3 2024 financial report, showing no increase in revenue but quite positive profits.

Accumulated for the first 9 months of this year, HAG recorded 4,193 billion VND in net revenue, down 17% over the same period, but the cost of goods sold decreased more sharply. Profit after tax reached 851 billion VND, an increase of 21%.

HAGL, chaired by Mr. Doan Nguyen Duc (Bau Duc), has long focused on the agricultural sector, with main products such as pig farming, banana cultivation, and durian farming…

This is also the area that is helping HAG gradually reduce the accumulated losses of thousands of billions of dong that have plagued the company for many years.

As of the end of September, HAG's accumulated losses had decreased to VND 626 billion, compared to VND 1,435 billion at the end of last year.

Livestock tycoon reports profits dozens of times higher.

In the third quarter of this year, Masan MEATLife Joint Stock Company (MML) – the owner of the MEATDeli chilled meat brand – also reported a net profit of nearly 20 billion VND, ending several consecutive quarters of losses.

In terms of revenue, Masan MEATLife recorded over VND 1,935 billion in the third quarter, a slight increase compared to the same period last year. However, the gross profit margin improved significantly due to reduced cost of goods sold.

Masan MEATLife's leadership explained that the growth came from revenue in the chilled meat and processed meat segments. In particular, the chicken farming segment and reduced feed costs contributed to the increase in gross profit.

Masan MEATLife is a subsidiary of Masan Group (MSN) – a conglomerate chaired by billionaire Nguyen Dang Quang.

Most impressive is the revenue and profit growth rate achieved by Dabaco Vietnam Group Joint Stock Company (DBC) in the third quarter. The financial report shows that in the third quarter, Dabaco achieved VND 3,525 billion in revenue, a 30% increase compared to the same period last year, and gross profit reached VND 623 billion.

After deducting expenses, this large livestock company earned a net profit of over 312 billion VND, 26 times higher than the same period last year.

Explaining the reason for the sudden surge in profits, Dabaco's leaders said that the prices of raw materials for animal feed production, both domestically and imported, were relatively stable. In addition, the price of live pigs in the domestic market also increased, thus the company became more profitable.

PAN Group (PAN), chaired by Mr. Nguyen Duy Hung, has also just announced its financial report for the third quarter of this year.

Accordingly, net revenue reached VND 5,083 billion, an increase of 37% compared to the same period last year, and after-tax profit reached VND 343 billion, an increase of 78%.

Ms. Nguyen Thi Tra My, General Director of PAN, said that the main business segments such as plant seeds and rice, disinfection and agricultural chemicals, shrimp, and pangasius exports all experienced growth in revenue and profit.

Source: https://tuoitre.vn/ti-phu-dai-gia-kiem-bon-tien-nho-nuoi-heo-voi-ga-20241026154506121.htm