On June 17, 2022, F.I.T Group Joint Stock Company (F.I.T Group) held its Annual General Meeting of Shareholders in 2022 with the goal of doubling profit over the same period.
The report at the AGM of the Board of Management showed that in 2021, F.I.T Group and its subsidiaries maintained a high growth rate and achieved good business results and profits recorded good growth compared to the same period last year in the context of overcoming challenges caused by the prolonged Covid-19 epidemic.
Specifically, the Group’s revenue in 2021 reached nearly VND 1,237 billion, an increase of over VND 23 billion, profit before tax reached VND 279 billion, an increase of 158% compared to the same period in 2020. The member companies have exceeded revenue and profit targets at a high level, contributing to the group’s overall results.
In the pharmaceutical sector, Cuu Long Pharmaceutical Joint Stock Company (DCL) recorded net revenue in 2021 reaching nearly VND 704 billion, an increase of 4.83%; pre-tax profit reached over 110 billion dong, an increase of 28.32% compared to the same period. In the field of production and processing, Westfood Processing Export Joint Stock Company (Westfood) recorded revenue of 280 billion VND, profit before tax reached VND 23 billion. In the beverage segment, Khanh Hoa Mineral Water Joint Stock Company (Vikoda) achieved net revenue of nearly VND 248 billion; pre-tax profit reached nearly VND 17 billion.
In 2022, F.I.T Group continues to determine to complete the business restructuring process, strengthen key business segments and have strengths to accelerate growth. The target of the group’s net revenue plan in 2022 is VND 1,367 billion, an increase of 12%, profit before tax is VND 488 billion, 2.1 times higher than in 2021. The AGM also agreed not to pay dividends in 2021 because it is in the stage of concentrating investment capital for production and business.
In which, in 2022 F.I.T Group plans to develop many potential real estate projects in the provinces of Ninh Thuan, Hanoi, Hoa Binh; Dak Nong, Ho Chi Minh City…, focus investment resources on the Cap Padaran Mui Dinh project with a total investment of over USD 1 billion, on a scale of nearly 800 hectares in Ninh Thuan.
In the field of pharmaceuticals, in 2022, DCL submitted to the General Meeting of Shareholders to approve the investment in building a European standard cancer drug factory by the end of the year. With the ownership of 2 cancer drug production copyrights, DCL plans to distribute in 2022 and the business plan of 2022, revenue and profit in 2022 will increase by at least 21% compared to 2021.
In the field of agricultural product processing, in 2022, Westfood implements a plan to start construction of Westfood Hau Giang factory, and at the same time, expand the special material area of KING MD2 pineapple to stabilize and improve input quality with the target of VND 400 billion in revenue and VND 22.68 billion in pre-tax profit. For the beverage segment, focusing on building the Vikoda brand to become the leading brand in natural alkaline mineral water, expanding the distribution system with a revenue target of over VND 372 billion.
