Loc Troi (LTG) revenues up 79 per cent in first 9 months
Loc Troi (LTG) revenues up 79 per cent in first 9 months
Loc Troi Group (UPCoM: LTG) achieved revenues of VND7.1 trillion (US$312 million) in the first nine months of the year, a year-on-year increase of 79 per cent.
Its post-tax profit in the period is estimated at VND262 billion ($11.5 million).
According to the company’s financial statements for the first nine months, its food and agricultural material businesses accounted for 46 per cent and 43 per cent of total revenues to reach more than VND324 trillion and over VND3 trillion, respectively.
Its agricultural services sector, established in 2020, recorded significant growth over the same period last year.
Despite the difficulties caused by the COVID-19 pandemic, the leading agricultural group managed to ensure the safety of its more than 3,500 staff and their wages.
LTG bought rice from farmers even when COVID restrictions were in place.
It also shared farmers’ difficulties by keeping the prices of agricultural inputs unchanged though their prices went up by 30 per cent, some even by 50 per cent.
In September the company was recognised by the Ministry of Industry and Trade as one of the country’s prestigious exporters for a third year in a row.
In the first nine months of this year it has accounted for nearly 70 per cent of the country’s total rice exports to the EU.
It exported its rice to more than 20 countries in the world.
