F.I.T Group

F.I.T Group Joint Stock Company

  • English
  • Tiếng Việt
  • Home
  • About
  • News
  • Business industries
  • Shareholder relationship
  • Sustainable development
  • Recruitment
  • Contact
Trang chủ » News » F.I.T Group

Chairman of TSC explains about the “transformation” plan

16/03/2015

In the morning of 14 February, Can Tho Techno – Agricultural Supplying Joint Stock Company (HOSE: TSC) held the Annual General Meeting of 2015, approving the business plan to “expand” in many business segments; revenue of VND 1,010 billion, 2.2 times in 2014 and profit after tax to increase by 67%, equivalent to VND 117 billion and to withhold dividend.

In 2015, TSC set an ambitious plan for almost all business segments to grow almost by double compared to 2014.

As for the pesticide segment, although considered as having to face with fierce competition, TSC set the targeted revenue to increase by 94%, at VND 165 billion

Chairman Nguyen Van Sang said at the current cost of goods sold level, the pesticide industry generated about VND 40,000 billion of profit each year, therefore in terms of absolute numbers, the growth rate of TSC is relatively small, and the company will focus on growth other than M&A.

Target of VND 245 billion is set for the fruit and vegetable processing segment because fruits and vegetables are increasingly important in family meals. In addition, as observed by Mr. Sang, 70% of the world GDP is focused on the food industry.

West Food, a subsidiary of the company, is currently focusing on the fruit industry. In the upcoming time, new products will be developed (without specific disclosure by TSC), however, the capacity in the next 6 months will be doubled.

Mr. Sang said West Food has missed the chance to acquire a vegetable company in Tien Giang, when another counterparty, Vinamilk (HOSE:VNM) made the purchase at a much greater transfer price. Missing this opportunity means that West Food has missed the chance to generate revenue of VND trillion.

By early 2016, TSC will expand into agro-processing for export, with target of USD 50–100 million in the next 1-2 years. As at the moment, TSC is producing domestically, but has not yet revealed the product brand, and in quarter 1 2016 the soonest, this product will be introduced to the market.

As for procurement of agricultural products, the AGM approved the target revenue of VND 480 billion, 17 times compared to 2014. However, Mr. Sang explains that this is not impractical because TSC already produced thousands of tons of rice before. Basic agricultural product ingredients ‘prices are forecast to reach the bottom, which will be the opportunity for TSC to increase the commercial value.

As for seed segment, TSC has recently negotiated successfully with a company in the Philippines specialized in distribution and possibly in quarter 2, TSC will merge with a company in seed trading with warehouses and manufacturing facility for seeds to develop this segment.

In addition, as for services and hospitality segment, TSC will only participate in when finding profitable opportunities and with good balance of assets.

In 2014, TSC’s revenue is VND 475 billion, 30% lower than 2013; profit after tax is VND 62 billion, compared to just VND 3 billion at the same period; and no dividend is declared for the year.

Capital increase plan for 2015

In the upcoming time, TSC will issue 43 million additional shares, raising the share capital to VND 588 billion, in which FIT will acquire about 75% shares, and if the minority shareholders do not purchase all the remaining shares, TSC still has a number of strategic shareholders who are willing to acquire all the shares not sold out. Thus, 100% of the shares will be successfully issued this time, Chairman Sang affirms.

In the next April 2015, TSC will also issue 15 million shares at the price of VND25,000/share to strategic shareholders, with VND200 billion expected to be collected.

  • Facebook
  • Zalo
  • Email

Tin tức khác

Xem tất cả

F.I.T Group

F.I.T Group Successfully Holds 2025 Annual General Meeting of Shareholders

24/04/2025

F.I.T Group

Together, Let’s Carry on the Legacy – Elevating Our Position

18/04/2025

F.I.T Group

The Milestone of 18 Years on the Journey of “Continuing the Legacy, Elevating the Position” of F.I.T Group

26/03/2025

F.I.T Group

F.I.T Group Inaugurates $26 Million Factory on the 18th Anniversary of Its Establishment

25/03/2025

F.I.T Group

F.I.T Group Reaps the Fruits of Success After 18 Years: “Honoring Excellence – Elevating Position”

25/03/2025

F.I.T Group

F.I.T Group 18 Years: Honoring Excellence – Elevating Position

17/03/2025

F.I.T Group

F.I.T Group Inaugurates $26 Million Factory on Its Anniversary

27/03/2025

Head Office

5th Floor, Times Tower – HACC1 Complex, No. 35 Le Van Luong, Thanh Xuan District, Hanoi

  •  info@fitgroup.com.vn
  •  (84-24) 7309.4688 – 7309.4689
  •  (84-24) 7309.4686
Branches

F.I.T Group Building, 276 Nguyen Dinh Chieu, Vo Thi Sau Ward, District 3, HCMC

  •  info@fitgroup.com.vn
  • (84-28) 7309.4688-7309.4689
  • (84-24) 7309.4686
Recruitment

Career opportunities

F.I.T’s everyday life

Why choose F.I.T Group

FAQ corner

Contact – Recruitment

Follow Us

CONTACT US

  • © 2023 F.I.T Group. All Rights Reserved
  • Thiết kế web: Caia.vn
↑