Bibica surpassed 6% of its profit target in 2020

Bibica (HoSE: BBC) – a member of The PAN Group announced fourth quarter revenue of 202 billion dong, gross profit margin improved to over 33%. Profit after tax in the last quarter reached nearly 35 billion VND, equaling 68% over the same period.

Bibica surpassed 6% of its profit target in 2020

Unit: billion dong.

For the whole year 2020, the company recorded a 17% decrease in revenue to VND 1,246 billion. Thanks to the reduction in selling expenses and other profit, profit before tax increased slightly year-on-year to 121.5 billion dong. Profit after tax decreased slightly to nearly 94 billion dong.

In 2020, Bibica targets to achieve 1,800 billion dong in revenue and 88 billion dong in profit after tax. With the above results, the enterprise has exceeded 6% of the annual profit target.

The company over the past year has witnessed a major shareholder movement when Lotte Corporation sold all over 44% of its charter capital, completed at the end of the year.

Meanwhile, The PAN Group, which holds more than 50%, announced a bid to buy more than 7.7 million BBC shares in mid-2019. This move proves the message that the agricultural corporation has conveyed, Bibica is a piece of the puzzle. is important in a 3F (Farm to Table) strategy when entering the food industry.

According to Bibica Chairman Truong Phu Chien, Lotte divestment could be an opportunity for Bibica and The PAN Group. With a large and concentrated shareholder structure, Bibica will find it easier to unify policy lines, business development directions and project investment approval.

In fact, right after the above fluctuation, PAN CG Company (based on Bibica’s distribution system) announced the expansion of business beyond confectionery, when signing cooperation to distribute products strategically for customers. such as Ba Huan, Hae Ryong Foods, Quoc Viet Foods, International Food …

Source: ndh.vn – Translated by fintel.vn

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