Agriculture major Hoang Anh Gia Lai profit hits 8-year high

Agricultural giant Hoang Anh Gia Lai JSC earned an after-tax profit of VND1,181 billion ($50.37 million) in 2022, exceeding the year target by 5% and a record high in eight years.

The company's (HAGL) revenue reached VND4,574 billion ($195.06 million), up 118% year-on-year, according to the firm's letter to shareholders released Monday.

Of the total revenue, the fruit tree segment recorded VND2,277 billion ($97.1 million), accounting for 49.8%; livestock VND1,620 billion ($69.08 million), or 35.4%; and the support segment VND677 billion ($28.87 million), or 14.8%.

According to the company, the pork price in December 2022 was lower than in November, so production and business results in the month were only about 58% compared to November.

In September, 2022, HAGL suspended registration documents for a private placement of shares worth VND1,700 billion ($71.7 million) that it had submitted to the State Securities Commission. HAGL said that the suspension aimed to adjust its detailed capital use plan to match actual needs and ensure investment efficiency.

The firm, listed on the Ho Chi Minh Stock Exchange as HAG, closed the Wednesday trading session at VND9,460 ($0.4).