The agricultural company of Boss Duc set the goal to get 4.300 billion VND in this year, in which banana gardens contribute to 86%.
According to the report in the annual meeting at the end of June, Hoang Anh Gia Lai International Agricultural Joint Stock Company( HAGL Agrico) set the plan for net sales reached 4.307 billion VND in this year. The fruit trees are expected by the leadership is the business segment is the main source of income.
Banana garden estimated collect 3.708 billion VND and contribute to 86% of the total revenue. The harvest production of jackfruit and dragon fruit garden total is 23.500 tons, thereby recording revenue in turn to 239 billion VND and 215 billion VND. Rubber and some other fruit trees account for 3.4% in the revenue structure, equivalent to 145 billion VND.
Estimating to the end of last year, the company planted over 18.300-hectare fruit trees. Over 5.730 hectares in these trees are exploited with the main product such as banana, mango, jackfruit, grapefruit, and dragon fruit.
The leadership of HAGL Agrico said that the biggest goal for this year is taken good care of the existing garden area, increase productivity, and ensure quality. Depending on the redundant land fund and the financial resource, the company will plant banana to reach a scale of 15.000 hectares. For rubber garden, the buy price is low but the company affirmed to continue to take care of the garden of nearly 32,000 hectares.
In the message to shareholders, Mr. Doan Nguyen Duc- company board president said that they will discuss with the bank to freeze and reschedule debts and reduce interest rates to cope with the difficulties and consequences of epidemics.
“Survive and maintain great fortune of shareholders is a supreme goal in 2020”, Boss Duc said.
HAGL Agrico set the goal for this year is interrupt circuit the loss with the target of 566 billion dong profit before tax. Last year, the company lost over 2.440 billion VND. According to explain of the company’s leadership, because it is in the period of investment to change the industry and crop structure, there are losses due to the cost of converting the orchard and the liquidation of the assets associated with the old orchard. At that time, over half of the fruit trees area is in the basic construction investment stage.