Masan MEATLife (HSX:MML) saw the strongest growth in the first half of the year, with an increase of 70 per cent to just under than $140 million. According to a recent financial statement, MML has just added the revenue of sausage and canned pork processor Masan Jinju ((HSX:MSJ). However, due to rising costs, MML reported $14.7 million in after-tax losses, 10.5 times the amount reported for the same period last year.

The business results of Hoang Anh Gia Lai JSC (HSX:HAG) were also much better than others. In August, HAG gained $27.8 million in net revenue, including $14.3 million from fruits, $7.7 million from livestock, and others.

HAG chairman Doan Nguyen Duc thanked three core areas for the results, breeding pigs and growing bananas and durian. "We are fiercely reviving the company for the sake of personal honour and for our shareholders," said Duc.

In the first half of the year, HAG generated about $132.5 million in revenue, an increase of 55 per cent on-year, of this, pig breeding contributed more than $42.2 million. Despite significant growth in revenue, the heavy costs dragged its after-tax profits to $17.1 million, down 24 per cent on-year. HAG is still facing accumulated losses of more than $124 million to date, although total assets have increased slightly compared to the beginning of the year to more than $900 million.

Hoang Anh Gia Lai Agricultural JSC (HSX:HNG) earned $11.7 million in revenue for the same period, a decrease of 23 per cent on-year, and lost $10.1 million in after-tax profit, according to the latest financial statement of the company.

This year, HNG expects the total volume of banana, pineapple, mango, and grapefruit output to approach 129,000 tonnes, and rubber touch 10,300 tonnes. The total assets of HNG saw a sight increase to $553 million for mid-2023, however, there were $434.6 million in debts payable and $305.5 million in accumulated losses.

In addition to steel manufacturing, Hoa Phat Group (HSX:HPG) entered the market for breeding pigs and selling Australian beef. In the second quarter, HPG reported $1.26 billion in revenue, a decrease of 21 per cent on-year. Of this, agriculture contributed $62.4 million – the worst outcome over the last four years.

After-tax profit was VND1.45 trillion ($61.2 million), a drop of 64 per cent on-year. In the first half of this year, HPG generated $2.4 billion in revenue, and $77.2 million in after-tax profit, quite far from yearly targets, according to HPG's financial statement.

Specialising in producing animal feed, breeding, and food processing, Dabaco Group (HSX:DBC) reported an impressive $146.4 million in net revenue, and just under $14 million in net profit in the second quarter. However, due to heavy losses in the first quarter, DBC gained just $253,000 in profit, a decrease of 73 per cent on-year.

BAF Vietnam Agriculture JSC (HSX:BAF) reported a decrease in agricultural product revenue by 21 per cent, while livestock revenue decreased by 5 per cent and for the first time, the company generated revenue from selling real estate investments of nearly $1 million. However, total revenue still decreased by 17 per cent on-year to nearly $105.5 million, and after-tax profit reduced by 88 per cent on-year to $675,000.

Although the results of the leading domestic livestock businesses were not as bad as could be expected, mainly due to the efforts of management, they were paled in comparison to the performance of the foreign-invested livestock giant C.P. Vietnam.

According to the financial statement from the Thai parent company C.P. Group, the contribution of its subsidiary in Vietnam decreased by 6 per cent on-year for the first quarter of 2023. Of this, breeding generated the largest revenue at $1.05 billion, down 9 per cent; animal feed at $527.4 million, down 3 per cent; and food at $111.8 million, an increase of 7 per cent on-year.

In the second quarter, C.P. Vietnam saw a decrease of 7 per cent in total revenue to $890 million, including $553 million from breeding, $287 million from animal feed, and $55 million from food processing.