In 2017, looking at Westfood’s business indicators, it can be seen that Westfood is making more and more breakthroughs. Especially the development of its own raw material plantation areas will contribute many positive changes to the company’s production and business activities.
In 2017 Westfood achieved gross profit of VND65.3 billion, rose by VND18.1 billion, equivalent to an increase of 90% compared to 2016; after-taxed profit reached VND17.49 billion, rose by VND 8.47 billion, an increase of 94% compared to that of 2016. Facing the fierce competition from new enterprises, in order to achieve this result, Westfood has selected products that have the advantage of prestige and quality to provide the market, at the same time focusing on the key market – Japan, the country that requires the strictest quality standards in the world. It is the reason why they have been sold at the good price. In addition, the company also has a long-term plan to actively reserve raw materials for production and business activities in the off-season-months. Besides, Westfood effectively manages input materials through the search and construction of reputable suppliers, ensuring 100% for stable quality of inputs, meeting high standards of export to up markets with the most competitive price on the market, especially take the initiative in own raw material sources.
Westfood pineapple raw material areas
Realizing that developing a stable and sustainable raw material plantation area is one of the vital conditions for the development of enterprises which operate in the field of fruit import and export like Westfood, the Board of Directors, under the direction, instruction and investment of the parent company – FIT group, has focused on the development of its own raw material plantation areas from the end of year 2015. Westfood now owns pineapple, papaya and cucumber fields, and will continue to invest in expanding its raw material areas in the coming years. The success of testing plantation of MD2 pineapple variety in its own raw material plantation area has been a lever for Westfood to keep pursuing the strategy which aims to expand the material areas. Especially the MD2 pineapple material plantation area has contributed to new breakthroughs in the market. This result is the evidence showing the right investment, as well as expressing the enthusiasm and aspirations of the Board of Directors on the journey to raise the brand of Vietnam’s agricultural products.
In 2018, based on the results which achieved in 2017, the business plan in 2018 is set with net sales of VND376.524 billion, equivalent to 38% increase and after-taxed profit of VND24.579 billion, equivalent to 40% increase compared to 2017. Accordingly, Westfood continues to implement the proposed development strategy for the period 2014 – 2019 which attempts to increase production capacity, improve and develop new products, expand investment, maintain stable business performance, ensure the capacity to satisfy the great orders from foreign partners and improve profit margins. So as to achieve the expected results of the roadmap to help Westfood to reach a deep and sustainable development, the expansion and development of the raw plantation material area are important factors. They play important role in making Westfood one of the enterprises which own the top agricultural export product material plantation area in the Mekong Delta and of the country.
From the time of becoming a subsidiary of FIT Group, receiving investment and strategic planning from the parent company, Westfood is increasingly transforming itself with remarkable progress. With the advantage of raw material areas, modern machinery which meet international standards, quickly catching and anticipating the market trend, the Board of Directors and all Westfood employees will make more efforts, overcome all difficulties then make the brand name of Westfood become a reputable brand, a reliable partner of customers around the world.