HAGL fulfills 91% of 2014 plan, sees $141m in revenue

The group's Board of Directors set a pre-tax profit target of VND2.1 trillion ($97.2 million), an increase of 18 per cent over 2014. Photo BizLIVE

Of the total revenue, only revenues from real-estate business and commercial sales exceeded the projections by 19 and 209 per cent respectively, he said.

Son said that sugar production brought HAGL revenue of VND1 trillion ($46.3 million), 92 per cent of the plan. Rubber production recorded the lowest revenue, VND227 billion ($10.5 million), which was only 67 per cent of the yearly plan.

HAGL's income from finance operations was more than VND1.47 trillion ($68 million), an increase of 47 per cent over 2013, he said.

At the end of last year, HAGL's outstanding loans were more than VND18 trillion ($833 million), an increase of 22.2 per cent over 2013. Short-term loans doubled to VND6.84 trillion ($316.6 million) and long-term loans amounted to VND11.3 trillion ($523 million), Son reported.

HAGL will issue 79 million shares from last year's undistributed after-tax profits and pay a ten-per cent dividend to its shareholders. The group will also issue an additional 10 million shares as a reward to its employees, he said.

This year, HAGL projects a total revenue of VND5.34 trillion ($247 million), an increase of 75 per cent over 2014.

Of the total revenue, cattle for meat production would constitute 46 per cent of revenue, equal to VND2.47 trillion ($114.3 million); real estate VND769 billion ($35.6 million), 14 per cent; and construction business VND785 billion ($36.3 million) 15 per cent of the 2015 plan.

The group's Board of Directors set a pre-tax profit target of VND2.1 trillion ($97.2 million), an increase of 18 per cent over 2014.

Of the planned VND2.1 trillion, the BoD will use 5 per cent for investment and development, 3 per cent for social welfare and 10-15 per cent for dividends in the form of money or shares.