HAGL earns $96 million in revenue in Q3

Hoang Anh Gia Lai (HAGL) earned VND2.153 trillion (US$96.1 million) in consolidated revenue and VND438 billion ($19.5 million) in after-tax profit in the third quarter of 2015.

According to the company report, the revenue was three times larger than it was in Q3, 2014.

Thus, in the first nine months of 2015, HAGL earned VND5.189 trillion ($231.6 million) in revenue and VND1.341 trillion ($59.86 million) in after-tax profit.

It also earned VND1.511 trillion ($67.45 million) in before-tax profit, achieving 72 per cent of the target for the year.

Besides the property sector, the group's agriculture sector contributed a lot to the result.

In late September, HAGL signed a co-operation agreement with Nutifood, which manufactures soy milk, under which HAGL will grow soybean on 1,000ha, while NutiFood will use the entire soybean crop for its soy milk products.

In 2014, HAGL worked with Nutifood on a VND11-trillion ($488.9 million) project, in which HAGL maintained 120,000 dairy cows to meet NutiFood's need for 500 million litres of milk per year.

HAGL Group shares (HAG) ended at VND14,500 ($0.64) each on the HCM City Stock Exchange on October 26.

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