Dabaco's profit halves in the second quarter

July 05, 2021 - 08:21
In the second quarter, Dabaco’s revenue reached VNĐ3,8 trillion (US$166.3 million), up 40 per cent year-on-year. However its profit after tax halved to  VNĐ214 billion.
A worker feeding pigs in one of Dabaco's farms. VNS/VNA Photo

HÀ NỘI — Dabaco Group (DBC) just released its assessment for the company’s business activities in the second quarter and the first six months of 2021. 

Accordingly, in the second quarter, Dabaco’s revenue reached VNĐ3.8 trillion (US$166.3 million), up 40 per cent year-on-year. However its profit after tax halved to VNĐ214 billion.

In the first six months, the company's revenue was over VNĐ8.4 trillion, double that of the same period last year, while the profit after tax was VNĐ579 billion, down 23 per cent.

In 2021, Dabaco set a target of more than VNĐ15.4 trillion in revenue, with profit after tax reaching VNĐ827 billion. Thus, in the first half of 2021, the company has fulfilled 55 per cent of the revenue plan and 70 per cent of the profit plan.

As the country has faced many difficulties and challenges in the second quarter due to COVID-19 outbreaks in provinces and cities nationwide, especially the ongoing fourth wave, and the change in weather complicates diseases in livestock,  production activities are expected to struggle. Notably, African swine fever has re-emerged in many provinces across the country and there is a risk of it spreading widely. 

Dabaco also urged the progress of approved projects, including Thanh Hóa, phase 2 of Phú Thọ hi-tech animal husbandry zone, social housing area; and sped up the investment preparation progress of the project of hi-tech livestock zone in Quảng Ninh, Hàa Bình, and Bình Phước (phase 2).

In terms of business, the company will also strengthen the development of a system of the breeder - animal feed market on the basis of effectively exploiting the 3F closed production chain to add value for products and increase its brand appearance in the market.

On the stock market, DBC shares closed lower last Friday, trading at VNĐ60,500 per share, down 4.57 per cent. For the year, the company shares rose 3.4 per cent. VNS