Mr. Duc's company made a profit of more than 1,800 billion VND

Liquidation of assets and favorable business operations have helped HAG's pre-tax profit in 2023 reach VND 1,805 billion, an increase of 75.5% compared to 2022.

This is the information just announced in the consolidated financial report of the fourth quarter of 2023 of Hoang Anh Gia Lai Joint Stock Company (HAG). Accordingly, in the fourth quarter of 2023, the enterprise achieved sales and service revenue of VND 1,898 billion, pre-tax profit of VND 1,092 billion, up 15% and 410% respectively over the same period in 2022.

In the fourth quarter, the company's revenue from goods and services and fruit trees increased sharply. In addition, the company's financial operating expenses in the fourth quarter fluctuated greatly thanks to Eximbank's interest rate exemption, helping the quarterly profit increase dramatically.

The company's cumulative sales and service revenue for the year reached VND6,932 billion, and its total pre-tax profit was VND1,805 billion, up 35.6% and 75.5%, respectively. This is the highest profit level of the company in the past 12 years.

Sharing at the 2023 year-end investor meeting in Ho Chi Minh City, Mr. Doan Nguyen Duc (Bau Duc) - Chairman of the Board of Directors of HAG, said that last year, Hoang Anh Gia Lai Hotel was sold for 180 billion VND and in the fourth quarter, the company converted shares of Hoang Anh Gia Lai University of Medicine and Pharmacy Hospital. In the near future, it will continue to liquidate this asset. During the year, the company also paid off the Eximbank debt of 750 billion VND and received a profit reduction of 1,000 billion VND.

Regarding the plan to issue 130 million shares privately, Mr. Duc said all procedures have been completed and he is waiting for feedback from the authorities.

This year, the company will plant more durian and increase the area to 2,000 hectares. It is estimated that this year the company will have about 300-400 hectares of durian in Vietnam and Laos for harvest.

As of December 31, 2023, the company's debt is VND 14,802 billion, of which long-term debt decreased by more than VND 1,000 billion to VND 4,194 billion.

According to Mr. Duc, with an effective business plan, it is expected that this year the company will eliminate accumulated losses and by 2026 there will be no more debt.

Thi Ha

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