BAF Vietnam Agriculture Joint Stock Company (BAF) has just announced the expected schedule for the 2023 annual general meeting of shareholders with many important contents. Including the business results of 2022 as well as the target plan for 2023.
Specifically, in 2022, the company's net revenue reached VND 7,083.4 billion, down 32.1% over the same period. Profit after corporate income tax reached VND 287.8 billion. Compared to the 2022 plan with revenue of VND 5,950.3 billion and profit after tax of VND 402.5 billion, BAF Vietnam Agriculture, although exceeding the revenue target, only completed 71.5% of the annual profit plan.
BAF Agriculture (BAF) Vietnam has not yet announced the dividend payment rate for 2023 (Photo TL)
Regarding the business target in 2023, BAF Vietnam Agriculture expects the annual revenue to be 7,526 billion VND, an increase of 6% and after-tax profit to be 301 billion VND, an increase of 4.5% compared to the results achieved in 2022.
The livestock sector is expected to account for a large proportion and bring in VND2,526 billion in revenue. Profit from this sector is expected to reach VND192 billion. Agricultural business activities are expected to bring in VND4,000 billion but profit is only VND64 billion. Meanwhile, the animal feed production sector is only expected to have revenue of nearly VND1,000 billion but profit is only VND45.4 billion. In the livestock sector, the company is expected to increase the output of pigs sold to the market to 348,770 heads.
In this shareholders' meeting, the most notable information is the dismissal of Mr. Phan Ngoc An from the position of Board Member. At the same time, 1 more member was elected to replace Mr. Phan Ngoc An to maintain the same number of members in the Board of Directors.
What shareholders are most looking forward to now is that the dividend payment plan has not been mentioned in the documents for the annual general meeting of shareholders. Shareholders will have to wait for more information at the meeting on May 10, 2023. In 2022, the company paid a 2021 dividend in shares at a rate of 45%, and at the same time issued bonus shares to shareholders at a rate of 39% to increase capital.
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