Vietnamese Company Exports Passion Fruit, Reports Record Profits, and Stock Surges Near Historical Peak

Since late July, shares of Nafoods Group, the leading passion fruit exporter in Asia, surged by approximately 30%, nearing the historical peak reached in August 2021. The company’s market capitalization increased to about 1.6 trillion VND after announcing a positive Q2 financial report. Net revenue exceeded 680 billion VND, up 54% year-on-year, and net profit reached 58.7 billion VND, a 15% increase. In the first half of the year, revenue and profits amounted to nearly 1.03 trillion VND and 71.6 billion VND, growing 37% and 12%, respectively. Nafoods holds a 10% share in the global passion fruit market and also utilizes various tropical fruits. Its products have been exported to strict international markets such as the US and Europe. A report from Agriseco predicts Nafoods will enter a new growth phase by 2025 due to factory expansions and increasing demand in key markets. The company recently started construction on a new facility in Tay Ninh and secured a $6 million loan from ResponsAbility Investments AG, reinforcing its sustainable development focus.