Anova Corporation has announced its new name, Nova Consumer Group, at its annual shareholders' general meeting on June 25.
|Anova Corp’s 2021 annual shareholders' general meeting was organised virtually
According to its 2020 annual report, Anova Corp has total consolidated assets of VND3.88 trillion ($168.7 million) and owner’s equity of VND2 trillion ($86.96 million). The group generated net revenue of VND3.11 trillion ($135.2 million) and after-tax profit of VND178 billion ($7.74 million).
The annual shareholders' general meeting approved the business plan for 2021 with positive growth targets. Specifically, revenue and after-tax profit are expected to grow by 33 and 57 per cent, respectively.
The meeting agreed to change the name from Anova Corp to Nova Consumer Group as well as approved plans for an initial public offering to list shares on the Ho Chi Minh City Stock Exchange at the end of 2021.
To achieve the business plan for 2021, Nova Consumer Group will continue to develop and expand its core business in the agricultural sector. The group will also co-ordinate with other subsidiaries to provide comprehensive livestock solutions to customers, including breeding stock, animal feed, and veterinary medicine.
In the veterinary medicine segment, Nova Consumer Group expands its export sales, focusing on large customers in the Middle East and Australia. Meanwhile, Anova Pharma and Anova Biotech will introduce new products to boost sales for pet vaccines. Anova Feed will continue to develop its markets, increasing sales volume by over 50 per cent to reach over 230,000 tonnes per year in the 2021 financial year.
|Anova Pharma will introduce new products to boost sales of pet vaccines
For the livestock industry, the group will continue to invest in expanding pig and chicken farms. It aims to add at least two large-scale pig farms and one chicken farm with nearly one million heads in the southern region. The expansion not only contributes to increasing sales of commercial chickens and pigs for Anova Farm, but also contributes to increasing the production output of Anova Feed, improving cost efficiency for the whole group.
With a consumer-oriented business expansion, the group will seek investment opportunities in the food sector to quickly complete the supply chain from farm to fork. Specifically, the group will consider joint ventures, alliances, or acquisition of controlling stakes in partners with distribution systems, production infrastructure, and technology to produce consumer products using raw materials for current member units as output.
The plan will promote the efficiency of the entire food supply chain with a view to providing comprehensive and quality nutritional solutions to Vietnamese consumers.
|Anova Corp was formerly known as Thanh Nhon Trading Co., Ltd. and was established in 1992. Currently, the group has nine member companies, including Thanh Nhon JSC, Anova BioTech, Anova Pharma, Anova JV, Anova Tech, Anova Feed, Anova Farm, Anova Agri Binh Duong, as well as Vietnam Sugarcane and Sugar Corporation II with more than 1,200 employees.
With more than 1,000 agents nationwide, Anova Corp has built a wide product distribution system throughout the country and maintained stable exports to more than 26 major markets, including South Korea, Thailand, Malaysia, and Nigeria.