With a bright outlook and a number of other supporting factors, tickers in agricultural firms have made strong gains in the past two months, rising by 18-60% and outperforming the 11% recovery of the benchmark VN-Index.
Both local and foreign companies are stepping up dealmaking activities post-COVID, indicating a recovery in Vietnam’s merger and acquisition (M&A) market.
The PAN Group reports 75 per cent rise in first-quarter profit despite COVID-19 17:39 | 07/05/2021
Cashew nut processing at Lafooco, The PAN Group
The PAN Group attributed the growth in consolidated net revenue mainly to shrimp exports (up 36 per cent), seed and agricultural products (up 11 per cent), confectionery (up 63 per cent), and coffee (up 41 per cent). In the cashew segment, the group promotes the production and business of products and brands adding value, reducing the proportion of raw cashew materials of high revenue and low margin.
Regarding profit, the main contributors to consolidated profit growth were seed and agricultural products (up 111 per cent), nuts (up 195 per cent), and confectionery (up nearly six times), traditional fish sauce products (up 32 per cent). The coffee segment reduced losses against the same period in 2020, reaching the breakeven point.