Housing business boosts livestock firm Dabaco’s profits

By Anh Tu   October 24, 2022 | 07:32 pm PT
Housing business boosts livestock firm Dabaco’s profits
A pig farm of Dabaco. Photo courtesy of Dabaco
Food and animal feed producer Dabaco Group reported a nine-fold profit jump in the third quarter from the first half of the year, partly thanks to its housing business.

Its after-tax profits for the quarter were VND206 billion (US$8.3 million), as against VND8.6 billion in the first quarter and VND14.2 billion in the second, its consolidated financial statements show.

Revenues surged by 30% year-on-year to VND3.67 trillion, including more than VND700 billion from housing development.

VnDirect Securities forecast in March that Dabaco would earn revenues of over VND800 billion and net profits of nearly VND100 billion this year from selling more than 450 apartments at its Lotus Central project in the northern province of Bac Ninh.

In the year to date Dabaco achieved revenues of VND9.6 trillion, up 20% year-on-year, but net profits were down two-thirds to VND230 billion.

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