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At the end of the Third Quarter of the 2023-2024 Fiscal Year, Thanh Thanh Cong Bien Hoa Joint Stock Company (TTC AgriS, Hose: SBT) recorded a consolidated net revenue of VND 19,544 billion, an increase of 9% compared to the same period, and completed 95% of the annual plan. Earnings before tax for the first 9 months reached 682 billion VND, an increase of 17% year-on-year, completing 80% of the annual plan. In the third quarter, the B2C channel grew impressively by more than 58% compared to the same period, and the B2B channel also recorded a positive increase in this quarter with nearly 34% compared to the same period. Thus, in the first nine months, TTC AgriS recorded a total sugar sales volume of more than 910 thousand tons. This is a positive sign in the context of the Vietnamese economy after a year of “steadfastly” overcoming the “headwinds” from the global economy, and sugar consumption demand has also improved significantly.
In the third quarter alone, the Company’s gross profit reached 785 billion VND, an increase of more than 19% over the same period. Gross profit margin was also a bright spot with positive improvements reaching ~13%, an increase of 1.2% over the same period. This result was due to a positive shift in the proportion of product structure – gradually shifting to products with higher added value. Besides, net profit from business activities also increased strongly, reaching 188 billion VND, an increase of 44% over the same period. Profit before tax reached 201 billion VND, an increase of 32% compared to the same period and profit after tax reached 188 billion VND, an increase of 23% over the same period.
As of March 31, 2024, the scale of TTC AgriS also expanded with total assets increasing strongly to 34,198 billion VND (over 1.4 USD billion), an increase of more than 14% compared to the beginning of the year, continuing to affirm the Company’s strong financial capacity.
TTC AgriS continues to be a “green” destination for the world’s leading financial institutions
According to Ms. Dang Huynh Uc My – Vice Chairwoman of TTC AgriS Board of Directors: “Currently, TTC AgriS is in the process of urgently completing the final steps to officially sign a capital sponsorship contract worth 80 million USD from a leading international financial institution in Asia. The deal is expected to be completed and signed in May.”.
It is known that this capital will be used by TTC AgriS for the purpose of investment, expanding the Company’s operations and adhering to the core strategic goal of the 2021-2025 period and aiming to realize the vision to 2030. Previously, speaking at the annual General Meeting of Shareholders in October 2023, Ms. Uc My emphasized: “TTC AgriS continues to follow the orientation of applying the Circular Commercial Value Chain model with the goal of becoming a provider of high-tech agricultural solutions, participating in the global food and beverage (F&B) value chain, aiming for a revenue of 60,000 billion VND by 2030”.
Ms. Dang Huynh Uc My – Vice Chairwoman of TTC AgriS Board of Directors affirmed: “The Company continues to follow the orientation of applying the Circular Commercial Value Chain model and sets a revenue target of 60,000 billion by 2030”.
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If the deal is successful, TTC AgriS is expected to raise the amount of capital successfully mobilized to 220 million USD in less than 1 year from reputable financial institutions. Previously, in June and July 2023, TTC AgriS mobilized 140 million USD from major international financial institutions such as IFC, SMBC, FCB Bank, a group of 9 financial institutions. Taiwan,…
With its position as a multinational agricultural enterprise, TTC AgriS has affirmed its competitive advantage when it has successfully established strategic relationships with leading financial institutions in the region, thereby creating a common playing field for financial institutions. financial institutions, credit institutions to participate in the sustainable agricultural economic value chain, resonate value and promote investment in the development of a circular economy.
