High pork prices in 2024 are one of the reasons for the sharp increase in after-tax profits of large enterprises in the livestock industry.
People buy pork at the store - Photo: SIBA FOOD
Dabaco's net profit increased nearly 37 times
Dabaco Vietnam Group Joint Stock Company (HoSE: DBC) has announced its business results for the fourth quarter of 2024.
Accordingly, net revenue in the period reached more than 3,600 billion VND, an increase of 38% over the same period in 2023.
The company's gross profit margin also improved, reaching more than 14%, compared to more than 9% in the fourth quarter of 2023.
Accumulated for the whole year of 2024, although net revenue increased by only 22%, Dabaco still recorded a strong increase in profit after tax thanks to higher gross profit margin, good control of financial costs and stable operations.
In addition, favorable market developments also contributed to helping the company achieve after-tax profit of nearly VND 769 billion, an increase of nearly 31 times compared to VND 23 billion in 2023.
Dabaco is a leading enterprise in the field of animal feed production, poultry and livestock breeds and food processing, with a herd of over one million pigs.
The company's management said that after-tax profit in the fourth quarter increased about 37 times mainly due to stable prices of animal feed ingredients and controlled diseases in livestock and poultry.
In addition, the increased demand for herd restoration from farmers, along with the price of live pigs remaining high in the last months of the year, helped the company achieve positive business results.
BAF profit increased by more than 680%
BAF Vietnam Agricultural Joint Stock Company (HoSE: BAF) also recorded strong business growth thanks to pork prices remaining high.
In the fourth quarter of 2024, BAF's after-tax profit will reach more than VND 128 billion, an increase of 552% over the same period in 2023.
The company's full-year net revenue reached nearly VND6,000 billion, up nearly 13%; gross profit margin skyrocketed to 10.8%.
Thanks to that, the company's after-tax profit last year reached more than 395 billion VND, an increase of 684%.
In 2024, the cost of goods sold in BAF's livestock operations will account for 83.6% of revenue; a significant improvement compared to 2023 when revenue in this segment was 3.6% lower than the cost of goods sold.
BAF's board of directors said that the price of pork in the market in 2024 will increase and remain above 60,000 VND/kg, at times approaching 70,000 VND/kg.
Meanwhile, the company's pork output last year was nearly twice as high as in 2023.
In addition, the price of input materials for animal feed production decreased compared to the previous period and maintained a low price level, helping to reduce production costs and increase livestock farming efficiency.
At the same time, the significant profit from the sale of the land plot on Mai Chi Tho Street (Thu Duc City) also contributed to BAF's positive results.
The land was originally slated for the development of a new office building, but after a more suitable site was found, the company's management decided to sell the property.
Source: https://tuoitre.vn/gia-thit-heo-tang-cao-cac-dai-gia-nganh-chan-nuoi-lai-lon-20250128143026028.htm
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