The increase of ownership rate in TSC up to nearly 75% in the 1st quarter continues to bring “sweet fruit” to FIT.
F.I.T Investment JSC (share sticker: FIT – HNX) has just announced the Q1/2015 consolidated financial statements. As announcement, the Q1 consolidated after tax profit after reached over VND 112 billion, equal to nearly 50% of the whole 2015 plan.
This profit has come from business operations of the parent company – FIT and the core and business activities of the subsidiary – Can Tho Techno – Agricultural Supplying Joint Stock Company (Share sticker: TSC – HSX).
Ending Q1/2015, the financial revenue of the parent – FIT reached nearly VND 103 billion, almost triple of the same period last year. Before tax profit reached nearly VND 100 billion, increasing 140% compared with Q1/2014.
For long term investment field, the increase of ownership rate in TSC up to nearly 75% in the 1st quarter continues to bring “sweetie fruit” to FIT.
Succeeding the 2014 strong growth pace, in the 1st quarter of this year, the consolidated revenue of TSC reached over VND 183 billion, increasing 130% vs last year’s same period. Impressively, before tax profit reached over VND 44 billion, 20 times as much of the year before amount of VND 2 bio.
In the fields of agricultural producing and business: In the first 3 months, the export volume of West Food Company (West Food) considerably increased compared to the same period in 2014. The company constantly receive big orders from Japan, USA, etc. including loyal customers and new ones. Besides, the company has received distribution orders for other products of TSC namely as rice, starch.
Customers were interested in the products of the West Food at Japan Foodex Expo held the early of March 2015.
Pesticides production and business situation of TSC in the 1st quarter also showed positive results. TSC Pharmaceutical Agricultural Joint Stock Company (TSP) has strongly promoted researching, developing and distributing pesticides under TSP brand, launching attrative marketing campaigns. Additionally, the Company also received orders to produce under OEM basis for other partners.
For seed-trade activities: In the 1st quarter, TSC Seeds Joint Stock Company (TSS) signed the exclusive contract of seeds distribution with the world leading agricultural corporation – Advanta. TSS has been completing final procedures to receive the first order of seeds from Advanta after one year of trial in some areas in Vietnam.
