Vietnam's 'aloe vera king' records 64% profit growth in H1

By mastering its raw material supply and optimizing factory operations, “Aloe vera king” GC Food JSC posted after-tax profits of VND52 billion ($1.97 million) in the first half of the year, up 64% from the same period in 2024.

The company achieved VND347 billion ($13.2 million) in net revenue in the six-month period, up 33% from last year.

The figures represent 48% of the company’s full-year revenue target and 58% of its profit goal.

On average, GC Food earned nearly VND9 billion (342,596) per month - more than double the same period in 2024.

According to its Q2 financial report, GC Food recorded net revenue of VND200 billion ($7.6 million) for the quarter, a 41% year-on-year increase. Gross profit rose 21% to VND73 billion ($2.77 million).

Chairman Nguyen Van Thu attributed the sharp growth to higher sales volume, an 18% drop in financial costs due to reduced debt and lower interest rates, and improved gross margins thanks to proactive sourcing and streamlined operations.

In August, Asia AIG Ingredients JSC (AIG) became a strategic shareholder after acquiring all 7.1 million GCF shares from a private issuance, raising its ownership from 34.73% to 52.87%.

Thu described the deal as a partnership between two companies with a shared vision of building a deeply processed agricultural products ecosystem and becoming a regional hub for natural food ingredients.

AIG’s portfolio includes coconut processing, frozen fruit, purees, cinnamon essential oil, and star anise, with a presence in more than 50 countries.

Founded in 2011 in Ninh Thuan, GC Food began with aloe vera cultivation, later building a processing plant and establishing a closed, clean agricultural value chain. Over more than a decade, it has become Vietnam’s leading producer of aloe vera and coconut jelly, exporting to 27 countries.

The company listed on the unlisted public companies market (UPCoM) in 2022. In 2024, it posted net revenue of VND475 billion ($18.08 million) and after-tax profit of nearly VND70 billion ($2.66 million), and issued a sustainable development report aligned with international ESG standards.

GCF shares closed at VND36,000 ($1.37) on Wednesday.