January 11, 2024

 

Betagro's operating results reveal $784.1 million net loss in Q3 2023

 

 

Betagro's operating results for the third quarter of 2023 saw a net loss of ฿784.1 million, reversing a trend from the same period last year that experienced a profit of ฿2.3 billion, according to Jaruwat Chawalitchiwin, executive vice president (financial management group) of Betagro Public Company Limited (BTG).

 

The loss has been blamed on the smuggling of pork parts and meat, leading to a sharp drop in domestic pig prices.

 

For the fourth quarter of last year, operating results are expected to improve due to live pork prices rising in recent times.

 

Betagro’s total revenue in the Q3 2023 stood at ฿27,180.1 million, a drop of 8.3% compared to the same period last year. The agricultural business group’s income was ฿8,171 million, an increase of 9.2% year-on-year, due to the increased selling prices of animal feed products.

 

Moving forward, Betagro’s long-term plan entails projects to introduce various technologies to improve production efficiency.

 

This year, the company has also set an investment budget of approximately ฿4-5 billion (US$114-143 million), which will be diversified into several activities, including building animal feed factories both in Thailand and outside the country, and expanding pig, broiler and laying hen farms.

 

Funds will also be diverted to a chicken processing plant, a pork processing facility and an egg screening plant.

 

Additionally, funds will be set aside to further develop Betagro's own sales channels.

 

The company has expressed its intention to continue expanding in its existing markets, namely, China and the Middle East, where it delivers its chicken products to.