Hoang Anh Gia Lai JSC (HAG) has turned a decade‑long financial crisis into a profit surge. Its story shows how cutting debt and refocusing on a few crops can revive a struggling firm, a useful example for anyone studying business turnarounds.

According to its H1 2026 consolidated financial statements, HAG’s profit after tax rose to more than VND2.12 trillion, compared with about VND834 billion a year earlier. Revenue for the first half of 2026 reached VND3.732 trillion, with fruit – mainly bananas and durian – contributing over VND2.693 trillion.

The same statements show that financial debt fell to more than VND8.6 trillion by June 30 2026, down sharply from VND28 trillion recorded in 2018. Reducing the debt load removed a major financial burden and freed cash for new investments.

HAG said it restructured after past losses from rubber investments by selling assets, scaling down operations, and concentrating on bananas, durian and new coffee projects. The company aims to expand its coffee‑growing area to 20,000 ha by 2028, having developed around 3,000 ha in 2025 and planning to add 7,000 ha in 2026.

The key takeaway is that disciplined debt reduction combined with a clear focus on core, cash‑generating businesses can transform a distressed company into a profitable one. HAG’s experience illustrates this principle in practice.