Loc Troi Group, a leading private provider of agricultural products and services, acquired VND1.99 trillion ($86.52 million) in net revenue and VND381.4 billion ($16.58 million) in gross profit, signifying drops of 24 and 42 per cent, compared to the consolidated figures of last year.
|Loc Troi Group reported a plunge in both revenue and gross profit |
In its consolidated financial statement for the fourth quarter, Loc Troi Group has reported bleak results. Financial revenue was VND2.2 billion ($95,650) in the fourth quarter only. Interest expenses also decreased by 43 per cent to VND27.6 billion ($1.2 million) and sales expenses decreased by 27 per cent on-year to VND178.6 billion ($7.77 million).
The consolidated net revenue in 2019 was VND8.31 trillion ($361.3 million), down 8 per cent on-year. Besides, gross profit decreased by 13 per cent to VND1.7 trillion ($73.91 million) and the group's after-tax profit decreased by 19 per cent to VND334.5 billion ($14.54 million).
Thus, compared to its full-year target, which was VND8.68 trillion ($377.39 million) in net revenue and VND521 billion ($22.65 million) in after-tax profit, the group reached 96 and 64 per cent, respectively.
Regarding its assets, at the end of 2019, Loc Troi owned VND6.5 trillion ($282.61 million), down 15 per cent compared to the beginning of the year. However, its short-term loans decreased by 35 per cent to VND1.97 trillion ($85.65 million) and long-term loans were zero.
As of the transaction session on January 30, the group's shares were at VND19,900 (85.65 US Cents) with the capitalisation of VND1.6 trillion ($69.57 million).
Loc Troi Group – formerly An Giang Plant Protection JSC – is one of the leading agricultural manufacturers in Vietnam. It focuses on the production of seed products, crop chemicals, as well as biological and organic products. The state still holds a 24.2 per cent stake in the company.