Billionaires and tycoons make a fortune from raising pigs and chickens.

Many agricultural enterprises grow positively in the third quarter of 2024 - Photo: QUANG DINH

Hoa Phat's agricultural sector grows strongly

Hoa Phat (HPG) is the steel group with the largest market share in Vietnam. In the third quarter, this group recorded a higher growth rate in the agricultural sector than the steel sector.

Specifically, the report shows that billionaire Tran Dinh Long's group brought in VND3,022 billion in after-tax profit in the third quarter of 2024, an increase of 51% over the same period last year.

In the first 9 months, Hoa Phat's after-tax profit reached VND9,210 billion, up 140% over the same period. The main contributor to this result was steel and related products with 85%, followed by the agricultural sector.

However, if the steel segment's profit increased by 42%, the agricultural group's increased by 80% over the same period last year.

Hoa Phat representative said that the output of pigs sold in the first 9 months of 2024 reached 443,000, an increase of 34%. In the field of poultry farming, the output of eggs supplied to the market by the enterprise increased by 5%...

An agricultural enterprise, Hoang Anh Gia Lai Joint Stock Company (HAG), also announced its financial report for the third quarter of 2024 with no increase in revenue, but quite positive profits.

In the first 9 months of this year, HAG recorded VND4,193 billion in net revenue, down 17% over the same period, but the cost of goods sold decreased more sharply. Profit after tax reached VND851 billion, up 21%.

HAGL, chaired by Mr. Doan Nguyen Duc (Bau Duc), has long focused on the agricultural sector, with key products such as pig farming, banana growing, durian growing, etc.

This is also the field that is helping HAG gradually reduce the accumulated loss of thousands of billions of dong that has "haunted" the enterprise for many years.

At the end of September, HAG's accumulated loss had decreased to 626 billion VND, while at the end of last year it was 1,435 billion VND.

Livestock "boss" reports profits dozens of times higher

In the third quarter, Masan MEATLife Joint Stock Company (MML) - owner of the MEATDeli chilled meat brand - also reported a profit after tax of nearly 20 billion VND, ending many consecutive quarters of losses.

In terms of revenue, Masan MEATLife recorded more than VND 1,935 billion in the third quarter, a slight increase compared to the same period last year. However, gross profit margin has improved significantly due to reduced cost of goods sold.

Masan MEATLife leaders explained that the growth came from the revenue of the chilled meat and processed meat segments. In particular, the chicken farm segment and the reduction in animal feed costs contributed to the increase in gross profit.

Masan MEATLife is a subsidiary of Masan Group (MSN) - a group chaired by billionaire Nguyen Dang Quang.

Most impressive is the growth rate in revenue and profit of Dabaco Vietnam Group Joint Stock Company (DBC) achieved in the third quarter. The financial report shows that in the third quarter, Dabaco achieved 3,525 billion VND in revenue, an increase of 30% over the same period, with gross profit reaching 623 billion VND.

After deducting expenses, this large livestock enterprise had a net profit of more than 312 billion VND, 26 times higher than the same period.

Explaining the reason for the sudden profit, Dabaco’s leaders said that the prices of raw materials for animal feed production in the country and imported are relatively stable. In addition, the price of live pigs in the country has also increased, so the company is more profitable.

PAN Group (PAN), chaired by Mr. Nguyen Duy Hung, has just announced its financial report for the third quarter of this year.

Accordingly, net revenue reached VND 5,083 billion, up 37% over the same period, profit after tax reached VND 343 billion, up 78%.

Ms. Nguyen Thi Tra My - General Director of PAN, said that the main business segments such as plant varieties and rice, disinfection and agricultural chemicals, shrimp, pangasius exports... all had growth in revenue and profit.

Source: https://tuoitre.vn/ti-phu-dai-gia-kiem-bon-tien-nho-nuoi-heo-voi-ga-20241026154506121.htm