With several listed producers reporting significant profit increases in Q3, Vietnam's livestock industry is having a stellar year. This is due to stable biosecure farming operations and a rebound in demand for pork before the year-end holiday season.
One of the best-performing companies is Masan MeatLife JSC (UPCoM: MML), which reported VND2.38 trillion ($90.44 million) in revenue for the quarter, up 23% from the previous year. Its after-tax profit increased 5.2 times to VND101 billion ($3.84 million).
The company's management claims that growth was observed in every business segment, including farming, processed meat, and chilled meat, propelling double-digit growth.
Additionally, improved cost control, especially in production, contributed to a VND138 billion ($5.24 million) increase in gross profit over the same time last year.
Masan MeatLife's revenue for the first nine months of 2025 was VND6.79 trillion ($258 million), up 24.7% from the previous year. The company's after-tax profit was VND466 billion ($17.7 million), an amazing 888% increase.
With a Q3 net profit of VND343 billion ($13 million), up 10% from the previous year, Dabaco Group JSC (HoSE: DBC), another significant industry participant, also reported strong results.
Strong results in the first two quarters were the primary drivers of Dabaco's nearly VND1.36 trillion ($51.68 million) in after-tax profit over the first nine months, which was 2.5 times higher than the same period the previous year. With this outcome, the business has already exceeded its profit goal for the entire year.
In the meantime, Hoa Phat Group JSC (HoSE: HPG) reported that its agriculture segment generated over VND6.26 trillion ($237.86 million) in revenue in the third quarter, and that its after-tax profit was VND1.3 trillion ($49.4 million), both of which were up 28% and 88% from the previous year.
Hoa Phat Agriculture Development JSC (HPA), which oversees the group's agricultural operations, submitted an initial public offering (IPO) application to the State Securities Commission in September 2025. As early as December 2025, HPA intends to list its shares on the Ho Chi Minh Stock Exchange (HoSE) under the name HPA.
BAF Vietnam Agriculture JSC (HoSE: BAF), on the other hand, had a less successful quarter. Its net revenue for the third quarter fell 13.5% year over year to VND1.1 trillion ($41.8 million).
Gross profit increased by 18% to VND264 billion ($10 million) due to a 20% decrease in the cost of goods sold. However, a 63.3% drop in net profit to VND22 billion ($835,947) was caused by higher operating expenses overall.
Due to strong results earlier in the year, BAF's earnings increased 70% year over year in the first nine months of 2025, with revenue of VND3.65 trillion ($138.7 million) and after-tax profit of VND365.3 billion ($13.88 million).
Ahead of the New Year and Lunar New Year 2026, analysts predicted that live hog prices would increase marginally in early November due to increased demand for both fresh and processed pork.
This seasonal increase in consumption could boost livestock companies' profits through the end of 2025, since supply from large farms has not yet recovered significantly.
Ta Van Tuong, deputy director of the Hanoi Department of Agriculture and Environment, highlighted the influence of consumer behavior and communication on the livestock market at a recent industry forum.
"We need to guide consumers to shift from 'hot meat' to chilled and processed products that meet modern food safety standards," he said, as quoted by The Investor Vietnam. "The expansion of supermarkets, convenience stores, and e-commerce platforms will drive transparent, traceable, and value-chain-based production."
In the meantime, An Binh Securities analysts warned that the industry continues to face difficulties due to pressures on logistics costs and possible outbreaks of African swine fever.
Experts are still hopeful about the livestock industry's long-term growth prospects. It is anticipated that stable supply and growing prices will boost profit margins.
They added that businesses with complete production control and efficient risk management against illnesses and natural disasters are likely to improve their efficiency, gain a competitive edge, and maintain long-term profitability.
