Feed producer Nova Consumer posts Q1 loss

By Tat Dat   May 4, 2023 | 05:00 am PT
Animal feed producer Nova Consumer posted its first loss after going public at VND7.6 billion ($324,127) in the first quarter this year.

The loss came on rising expenses, mostly loan interest. In the first quarter it borrowed over VND1.3 trillion and had to pay VND300 million in interest every day.

Its revenue rose 15% year-on-year to VND1.1 trillion, meeting 18% of the target for the year.

Nova Consumer is a subsidiary of property developer giant NovaGroup, and became a public company in March last year.

The company manages pig farms and produces feed and animal vaccines and medicines.

It is seeking permission to list its shares on the Ho Chi Minh Stock Exchange.

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