Swine fever pushes meat producer Dabaco to record quarterly profits

Pork shortage from recent African swine fever have helped doubling profit of Dabaco (HoSE: DBC) to more than $11 million if the final quarter of last year.

Dabaco expects to complete the annual revenue target at $446 million and $13 million consolidated after-tax profit, down 15% over the previous year.

The company completed only 85% of profit goal while the company’s leaders said last year was a difficult year for agricultural sector. Epidemics affected its business activities in animal feed, breeding, food.

In 2020, the company’s board of directors expect $19.6 million after-tax profit on $566.4 million revenue.

Placing profit plan for 2020 about 50% higher than business result of 2019, the company expects a stable recovery of the livestock industry and the contribution of new projects coming into operation.

In the first quarter this year, the company plans to issue 36-month bonds worth $12.9 million to raise capital.

During 2020-2025 period, Dabaco aims to become a leading corporation in the field of industry - agriculture – food, with annual profit growth of 9 to 15%.