The Manila Times

Agrinurture sees income recovery

BY ED PAOLO SALTING

AGRINURTURE Inc. (ANI) ended last week in the green, gaining 4.38 percent week on week, or from P4.79 to P5, as investors continued to hunt for bargains in the local market.

According to its financial reports, ANI reported a consolidated net profit of P1.2 billion in the first nine months of 2021, up 200 percent from P389.73 million a year ago. In addition, the company also recognized fair value gain on the valuation of investment properties, which amounted to P955.92 million.

It also generated consolidated sales of goods and services of P3.62 billion during the period, 21 percent higher than last year. Meanwhile, local distribution sales posted an increase of 120 percent to P490.79 million for the January to September period, from P223.52 million for the same period in 2020.

Over a 52-week period, ANI’s highest closing price was P6.20 on July 2, 2021, and its lowest was P3.98 on Nov. 26, 2021. Its net income over the past three years were as follows: P84.74 million in 2019, P16.56 million in 2020 and P 1.06 billion in 2021.

According to the Philippine Stock Exchange, ANI was incorporated on Feb. 4, 1997 and started its business operations in the same year as an importer, trader and fabricator of postharvest agricultural machineries intended to improve the productivity as well as increase the income of Filipino farmers. It was formerly known as Mabuhay 2000 Enterprises Inc.

The Philippine operations group is organized into three business units, namely export; local distribution; and retail and franchising. Meanwhile, the foreign operations group is principally engaged in fruits and vegetable trading in Hong Kong and China.

Among the company’s subsidiaries are Big Chill PH, Tully’s Coffee Philippines, Fit Bites, Big Chill Direct Sales, Cheesecake, ANI Express and AgriToken.

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2022-07-04T07:00:00.0000000Z

2022-07-04T07:00:00.0000000Z

https://digitaledition.manilatimes.net/article/281852942267397

The Manila Times