Rice Business Reports Huge Profits After Restructuring

TCO Holdings (HOSE: TCO) has just announced its Q1 2025 financial statements, recording total revenue of 488 billion VND, with its rice business contributing 450 billion VND, accounting for 92% of total revenue. After-tax profit reached over 33 billion VND, up 283% year-on-year, mainly due to gains from divesting from Nam An. TCO completed the transfer of all land use rights, factories, and equipment to its subsidiary TCO Agri. With a restructuring plan, TCO aims to fully exploit the rice market’s potential, which currently makes up over 90% of its revenue. TCO has also announced an extension for its annual shareholders’ meeting to prepare thoroughly. If the acquisition of An Vi rice mill succeeds, TCO could become a leader in the rice milling industry in Vietnam. Additionally, TCO owns the Enterprise Tower, promising stable profits for the company in the future.