Thanks to high sales of coconut jelly in markets, GC Food's third-quarter profit increased nearly 4.5 times compared to the same period last year.
The recently released third quarter report of GC Food Joint Stock Company (GC Food) shows that net revenue from sales and service provision reached more than 31 billion VND, an increase of 19% over the same period last year. Profit after tax was 12.5 billion VND, an increase of nearly 4.5 times over the same period in 2022.
Explaining the strong increase in business results in the last quarter, Mr. Nguyen Van Thu - Chairman of the Board of Directors of GC Food - said that export activities were favorable. Major markets such as Japan and South Korea increased their purchases of coconut jelly products from the company, pushing revenue up compared to the same period last year and increasing dramatically compared to the second quarter.
In particular, the Vietnamese coconut industry is benefiting from increased purchasing quotas from markets. A recent study from Japan found that coconut jelly is good for the digestive system and is therefore popular among consumers in this country.
In the first 9 months, coconut jelly exports to markets increased by 31% compared to the same period last year. Of which, two markets with large market shares such as Japan and South Korea increased by 20% and 25% respectively compared to the same period in 2022.
Workers at Vinacoco coconut jelly factory in Dong Nai . Photo: Thi Ha
In addition to the export market, coconut jelly and aloe vera are increasingly purchased by dairy companies in Vietnam to make many fruit drink products, so the company's sales volume is very good.
In the first 9 months of the year, the company achieved net revenue of more than VND 366 billion, after-tax profit of VND 23 billion, up 17% and down 3% respectively compared to the same period last year. The company explained that the decrease in profit for the first 9 months was due to the fact that the first 6 months of this year were affected by rain and flooding at the end of 2022, so the supply of aloe vera leaves decreased compared to the same period. In addition, the company also subsidized prices for people to restore production, causing profits in the first half of the year to decrease.
In the near future, GC Food said it will focus on organic products. At the same time, the company is focusing on restoring aloe vera growing areas to have a green, sustainable raw material area.
According to Vietnam's trade offices in other countries, coconuts and coconut products, including coconut jelly, have great export prospects. Vietnam is one of the largest coconut exporters in the Asia- Pacific region with an export turnover of 900 million USD in 2022 and this figure is expected to reach 1 billion USD in 5 years.
GC Food has been in the aloe vera and coconut jelly industry for more than 10 years. It is the leading producer of this product in the Vietnamese market with an output of more than 20,000 tons per year, present in 19 countries around the world , and is often called the "king of aloe vera". The company owns the Vietfarm aloe vera processing factory (Ninh Thuan) with a capacity of 35,000 tons of fresh leaves per year, producing 15,000 tons of finished products, and the Vinacoco coconut jelly factory (Dong Nai) with a capacity of about 12,000 tons of finished products per year.
Thi Ha
Source link
Comment (0)