SAF Food Joint Stock Company (code: SAF) announced its Q1 2025 financial report with revenue reaching 174 billion VND, an increase of 500 million VND year-on-year, equating to 1.9 billion VND per day. Gross profit stood at 37 billion VND, showing a 4% increase with a gross profit margin of 21.3%. Financial revenue rose by 30% to 1.5 billion VND, while financial costs remained low under 100 million VND. Net profit after tax recorded 12 billion VND, up 4.5% from last year. The 2025 plan sets total revenue at 780 billion VND and pre-tax profit at 61 billion VND, achieving 22.5% of the revenue target and 26% of the profit target. Safoco, a subsidiary of Vinafood II, is well-known for its rice paper products and historically maintains a stable cash dividend rate of around 30% per year. Dividends for 2024-2025 are expected to remain at 30%. SAF shares have dropped 17% from their peak earlier this year.
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