Loc Troi Rice Group expects big loss, cancels dividend payment

Loc Troi Group Joint Stock Company (UPCoM: LTG) has just announced documents for the 2025 Annual General Meeting of Shareholders scheduled to be held in mid-July in An Giang province.

Accordingly, the Board of Directors (BOD) of Loc Troi submitted to the General Meeting for approval this year's revenue plan of VND4,200 billion and the expected pre-tax loss of VND524 billion. The operating budget of the BOD and the Supervisory Board this year is VND1 billion and VND500 million, respectively.

Currently, the company has not paid a number of debts to the State including taxes, social insurance, and debt obligations to suppliers, partners and bank loans. Therefore, the company's Board of Directors has proposed to cancel the 2023 dividend payment (rate of 30%).

In the first three months of this year, the group achieved revenue of more than VND3,800 billion but lost more than VND96 billion due to high cost of goods sold and many expenses. In particular, the rice segment brought in more than VND3,200 billion in revenue but the cost of goods sold was up to VND3,100 billion.

As of the end of March 2025, Loc Troi's total liabilities were more than VND 8,900 billion (mainly short-term debt with large loans and financial leasing debts), while total assets were nearly VND 12,000 billion.

Regarding finance, Mr. Huynh Van Thon, Chairman of Loc Troi Board of Directors, said that last year was an especially difficult year for rice exporting enterprises, because rice exports reached a peak in value, but profits were very low and even suffered losses.

Particularly, Loc Troi, due to pressure on operating costs, low profit margins and financial difficulties, has had difficulty in developing raw material areas with farmers and limiting exports.