GREENFEED VIETNAM REPORTS SURGE IN FIRST-HALF PROFIT

The owner of the 3F Plus integrated food chain has regained growth momentum despite ongoing disruptions in domestic and global supply chains. At the end of the second quarter of 2024, GREENFEED’s total equity stood at $183.6 million, marking an increase of $41.3 million (29.1 per cent) compared to the same period in 2023.

The debt-to-equity ratio decreased to 1.11 times from 1.56 at the end of June 2023. The bond-to-equity ratio also saw a decline, falling to 0.15 times from 0.28 times on-year.

GREENFEED’s unaudited financial results for the first half of 2024 updated on the Hanoi Stock Exchange (HNX)

GREENFEED’s latest achievement reflects its sustained efforts to maintain and expand market share, according to a company representative. This growth was attributed to several factors, including increased production and herd size, advancements in breeding genetics and animal health, and the adoption of digital transformation throughout the 3F Plus integrated chain.

In animal feed production, GREENFEED identifies nutrition as a key factor in boosting livestock farming efficiency and has concentrated on advancing cutting-edge nutritional technologies.

The company is committed to creating high-quality product lines that ensure traceability and safety from production through to the final products. Continuous product enhancements have propelled GREENFEED into the top 100 largest animal feed producers globally and the top four in Vietnam, with an annual supply capacity of 2.5 million tonnes.

GREENFEED possesses exclusive gilts with exceptional traits that can be improved from 1 to 3 per cent annually, developed by the leading American swine genetics firm PIC. Managing up to 120,000 sows, the company is the only Vietnamese representative listed in the top 49 largest pig producers globally.

In addition to pig breeds, GREENFEED offers chicken and duck breeds (both layers and broilers), aquatic food, and state-of-the-art farming techniques. The firm currently exports its aquatic products to 20 countries worldwide, including demanding markets such as the US, Europe, and Japan.

In light of recent growth, the management board has emphasised efficient farm operations and sustainable development practices as key strategies for advancing the 3F Plus chain. This focus comes amid improved macroeconomic conditions and strengthened market confidence.

Source: https://vir.com.vn/greenfeed-reports-surge-in-first-half-profit-113800.html