Mr. Duc's company escaped loss in the second quarter thanks to other profits

In the second quarter, Hoang Anh Gia Lai lost 163 billion VND from business activities but was offset by other profits of 247 billion VND, so it had a pre-tax profit of 84 billion VND.

Hoang Anh Gia Lai Joint Stock Company (HAG) has just announced its consolidated financial report for the second quarter with net revenue of VND1,450 billion, up 18% over the same period last year. Of which, revenue from pig farming was about VND444 billion, up 71% over the same period. In contrast, revenue from the fruit sector decreased to VND561 billion.

Overall revenue in the second quarter increased, but after deducting expenses, the company had a net loss of VND163 billion. However, other profits of more than VND247 billion (this amount came from the cheap purchase of Bolaven High-Tech Agriculture Company Limited) were recorded, so the company had a pre-tax profit of VND84 billion.

In the first 6 months, Mr. Duc's company recorded revenue of 3,147 billion VND, gross profit of 638 billion VND, up 54% and 37% respectively compared to the same period last year. Of which, profit from pig farming was about 97 billion VND, fruit trees were 485 billion VND and 56 billion from the supporting industry.

After deducting expenses, the company's after-tax profit in the first half of the year was about VND405 billion, down 23% compared to the same period last year. Compared to the full-year profit plan of VND1,130 billion, Hoang Anh Gia Lai achieved 36%.

As of June 30, HAG's total assets were VND21,342 billion, an increase compared to the beginning of the period. The company's total debt was VND15,954 billion, total bank loans accounted for VND8,085 billion. The company's equity reached VND5,388 billion and accumulated losses were VND2,947 billion.

Thi Ha

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