For the 2023-2024 fiscal year (July 1, 2023 – June 30, 2024), Lasuco’s leadership reported the highest sugarcane yield in the past five years, with a continued expansion of its sugarcane raw material area. As a result, the company achieved a record-high revenue of nearly VND 2,700 billion, a 149% increase compared to the previous period. Pre-tax profit surged by 362% to nearly VND 144 billion, the highest in seven years.
Given these outstanding results, Lasuco proposed a dividend payout of 12% for the 2023-2024 fiscal year, comprising 5% in cash and 7% in stocks.
With over 80 million shares currently in circulation, the company plans to allocate more than VND 40 billion for dividend payments and issue over 5.6 million new shares (expected to be completed in Q1/Q2 2025). If successful, Lasuco’s chartered capital will increase to over VND 857 billion.
For the 2024-2025 fiscal year (July 1, 2024 – June 30, 2025), Lasuco’s management shared that the sugarcane raw material supply has recovered in terms of area and yield, but the quality of sugarcane remains a challenge. While sugar prices were favorable in the 2023-2024 period, they are currently showing a significant downward trend for the 2024-2025 period, posing potential risks.
Based on this assessment, the company has set a target of 700,000 tons of sugarcane raw material, aiming for a 5% increase in sugarcane quality compared to the previous year. Lasuco’s business targets for this period include a projected revenue of VND 2,700 billion and a pre-tax profit of VND 145 billion, representing slight increases from the previous fiscal year. The dividend payout ratio is expected to range from 10% to 15%.
In terms of investment plans, Lasuco aims to finalize phase 2 of the Lam Son Food and Agricultural Product Processing Center project in Thieu Hoa. For the Thanh Tam Bamboo Ecotourism Park project, the company will focus on completing land lease procedures for phase 1.
At the upcoming Annual General Meeting, Lasuco will also announce the resignation and election of members to the Supervisory Board for the 2021-2026 term.
Lasuco’s 2024-2025 Annual General Meeting is scheduled to be held on the morning of October 11 at the company’s headquarters in Lam Son town, Tho Xuan, Thanh Hoa.
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Western Vietnam’s Sugar Mills Halt Production, Incurring Losses of 20 Billion VND
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