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HAGL profits up 25% on rising pig prices

By Thi Ha   August 15, 2022 | 02:30 am PT
HAGL profits up 25% on rising pig prices
HAGL's bananas displayed on supermarket shelves. Photo by VnExpress/Phuong Dong
Profits of agriculture company Hoang Anh Gia Lai (HAGL) surged 25% month-on-month to VND125 billion ($5.34 million) in July.

Its revenues were VND393 billion, most of which came from fruit (VND186 billion) and animal husbandry (VND145 billion).

Growth was mainly driven by surging pig prices. "Our target pig price is VND55,000 a kilogram, and we have been selling at VND68,000 for over a month," HAGL Chairman Doan Nguyen Duc said.

HAGL seeks to diversify its income in the second half this year ahead of harvesting its first 100 tons of durian while launching new pork products.

The agriculture firm reported VND2.26 trillion in revenues and VND657 billion in post-tax profits for the first seven months.

On the stock market HAG of HAGL closed Monday at VND12,350 a share, near its four-month high.

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