FIT Group Joint Stock Company (FIT Group), formerly a finance company, after nearly 14 years of operation, has transformed itself into a strong corporation that dominates production & business companies in the essential commodities, which are on the rise.
FIT Group and its subsidiaries generate profits in 2020.
Covid-19 pandemic in 2020, many businesses had to cope with trialsome circumstances, countless had to close down, but the FIT Group and its subsidiaries all made profits. Specifically, the Group’s revenue in 2020 is estimated at over 1,178 billion dong of pre-tax profit at over 107 billion dong.
Typically Cuu Long Pharmaceutical Joint Stock Company (DCL) – profit and loss statement achieved a record revenue in the fourth quarter of 2020 reached nearly 40 billion VND. Generally in 2020, DCL’s returns is over 661 billion dong, gross profit is nearly 200 billion dong, pre-tax profit is over 90 billion dong.
For Western Food Processing Joint Stock Company (Westfood) – the leading food processing company in Vietnam: promoting the spirit of creativity and ownership, Westfood even achieved 109% of Profit before tax. WF owns the MD2 pineapple variety that is outstanding in quality and productivity, by 2021 the company will acquire at least 250 hectares of pineapple and expand 1,000 hectares of new material areas.
Breakthrough target in 2021
The year 2018 to 2020 is the period of restructuring the whole Group. 2021 is considered the year that reaping the rewards of the restructuring process. Exceedingly, the Group’s planned revenue in 2021 is 1,500 billion, up 27% compared to 2020; EBT is expected to reach 271 billion, an increase of 140% compared to 2020. This remarkable growth is mainly from DCL, Westfood, Vikoda and FIT Real Estate.
2021 – DCL has operated Capsule 3 Factory efficiently at 100% capacity, currently installing Capsule 4 Factory, plans to launch products in early Q2 / 2021. Not only that, DCL is starting the construction of a Modern Medical Supplies Factory in the first quarter of 2021, ensuring a huge demand for medical consumables, especially syringes and needles.
At this point, DCL – MA holder of the best-selling cancer drug in the market has been granted a visa by the Drug Administration (Ministry of Health) and plans to distribute goods from mid-2021. In 2022, DCL will start the construction of GMP-EU pharmaceutical factory. Therefore, in 2021, DCL sets a target of 980 billion dong in revenue, up 50%, pre-tax profit to 164 billion dong, up 116% compared to 2020.
In 2021, with the action slogan “FAST to WIN” Vikoda converges all important factors: financial capacity, brand reputation and all employees focus on the goal, take drastic action, quickly, closely coordinating with teammates working towards the common goal of over 410 billion VND, gross profit of over 177 billion VND, an increase of nearly 50% compared to 2020.
As for Westfood, keep on enhancing key products in the form of OEM: IQF, canning, Plastic Cup of other processed fruit products. Other than that, firmly grasp and expand market share in high-end, high-income markets such as Japan, Korea, Europe, America; Australia; developed Asian countries; specially the European market. Therefore, the revenue target in 2021 is over 246 billion dong, the gross profit is nearly 80 billion dong.
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Mui Dinh Paradan, a key project of FIT Group, will be implemented in 2021 |
In June 2021, the Board of Directors of Mui Dinh – a subsidiary of FIT Group decided to start the construction of Muidinh Ecopark eco-tourism area, promising to be one of the most interesting and beautiful resort projects on the planet.
Besides, at the Board meeting at the beginning of January 2021 in Nha Trang, the Board of Directors of FIT Group agreed to pay dividends to shareholders, expected 10%. The Board of Directors will carefully consider the development and dividends. FIT Group is facing a great opportunity to increase profitable assets. This proposal will be submitted to the Annual General Meeting of Shareholders 2021 for approval.
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| FIT Group owns the highly-growing potential companies in developed merchandise industries |
With the current model, book value (Book Value –BV) of FIT Group on 31/12/2020 is 15,886 VND / share; FIT Group is working with Top audit firm for determining stock value, then announce publicly this information in the first half of February after having the results.
According to the Securities Investment Newspaper: https://tinnhanhchungkhoan.vn/fit-group-2021-la-nam-gat-hai-thanh-qua-cua-qua-trinh-tai-cau-truc-post261579.html
