According to HAG's recently released second-quarter financial report, net revenue reached 2,329 billion VND, a year-on-year increase of over 50%. As a result, the company's post-tax profit for the quarter reached 510 billion VND, an 88% increase.
For the first six months of the year, the company recorded 3,709 billion VND in net revenue and 870 billion VND in post-tax profit, increasing 34% and 74% respectively compared to the same period in 2024.
Thanks to these results, as of 30/6, HAG has, for the first time, recorded 400 billion VND in undistributed post-tax profit. This also marks the first time Duc's company has escaped accumulated losses after 4.5 years.
Previously, the company experienced several periods of significant losses, particularly in 2016, 2019, and 2020. In 2020, the post-tax loss was 2,383 billion VND.
This year, the company reports achieving over 60% of its post-tax profit target in the first six months. This positive outcome stems from sustained high banana revenue, even before factoring in revenue from durian.
According to Duc, durian revenue will be recorded in the last six months of the year and is expected to significantly contribute to consolidated revenue and profit growth. The company is also considering adjusting its annual target to 1,500 billion VND in post-tax profit.
Furthermore, the company expects to record an unusual income of over 1,000 billion VND in the third quarter. Thus, the 2025 post-tax profit could reach 2,500 billion VND.
Along with revenue growth, the company states it will invest in planting 2,000 hectares of coffee and tea and 2,000 hectares of mulberry starting in 7/2025, after securing financial commitments from several credit institutions. According to HAG, this is a strategic move to diversify products, enhance the agricultural supply chain, and ensure sustainable long-term growth.
In addition to the profit adjustment plan, HAG's leadership has recently intensified stock buybacks and is preparing to increase capital through a private placement.
Thi Ha
