Vissan profits drop 13 pct

Created 31 July 2021
  • PDF
Editor Choice
(0 votes, average 0 out of 5)

Leading food producer Vissan reported a 13 percent fall year-on-year in both revenues and profits in the first half of the year.

Vissan profits drop 13 pct

Revenues were down to VND2.32 trillion ($100.9 million) and profits to VND76 billion.

But second quarter revenues increased by 9 percent to VND1.12 trillion. Net profits were marginally down at VND39 billion.

Vissan expects a 1-percent fall in revenues for the full year as pork and beef output remain unchanged and that of processed foods rises by 8 percent.

Vissan expects a shortage of live pigs in the near future because of a current shortage of resources and piglets for breeding. However, many consumers would switch to other sources of protein because of high pork prices, it said.

On July 28, Vissan sought approval from HCMC authorities after it found 43 workers had Covid-19 and suspected hundreds more to be infected. It has sent the latter into quarantine.

Vissan has 130,000 outlets comprising traditional distribution channels, over 1,000 supermarkets and convenience stores and 49 showrooms across the country.


Source: VNE

Maybe You Also Interesting :

» VN-Index falls to near two-week low

Vietnam’s benchmark VN-Index dropped 0.65 percent to 1,384.77 points Thursday, lowest in nearly two weeks, with most blue chips ended in the red.

» PM to attend ASEAN summits on October 26-28, COVID-19 high on agenda

Vietnamese Prime Minister Phạm Minh Chính will attend the 38th-39th ASEAN Summit and related high-level meetings held via videoconference during October...

» Taxi firm Vinasun revenue plunges 10 times

Taxi firm Vinasun saw its revenue in the third quarter plunge 10 times to VND23 billion ($991,000) as the fourth Covid-19 wave wrecked the transport industry.