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HAGL Agrico's revenue rising

Released at: 15:17, 15/08/2015

HAGL Agrico's revenue rising

Impressive year-on-year increase in revenue for first half.

by Son Ho

HAGL Agrico’s revenue in the second quarter reached VND1.566 trillion ($70.86 million), a three-fold increase year-on-year.

Revenue from its financial business grew significantly, from VND17 billion ($769,250) in the second quarter of 2014 to VND89 billion ($4.02 million) in the second quarter of this year. Spending also grew dramatically, however, with financial spending, cost of sales, and spending on enterprise management rising 22, 51 and 105 per cent year-on-year, respectively.

After-tax profit in the second quarter was VND486 billion ($21.99 million), a 115 per cent increase year-on-year.

As at the end of June Agrico’s revenue for the first half was VND2.072 trillion ($93.75 million) and after-tax profit more than VND592 billion ($26.78 million), increases of 63 and 5 per cent, respectively, year-on-year. The company’s asset value stood at VND20.688 trillion ($936.13 million).

HAGL has strong financial resources and professional management and is making tremendous strides forward in expanding its operations overseas. In its orientation for 2013-2015 the Group has focused on developing the agriculture and real estate sectors.

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