HVG sees 17-fold increase in Q2 profit
HVG sees 17-fold increase in Q2 profit
Fisheries Hung Vuong Corporation (HVG) reported revenues of VND6.6 trillion (US$295.5 million) and a gross profit of VND 472.6 billion in Q2, up 45 and 39 per cent, respectively, over the same quarter last year.
As the one of the largest tra catfish producers in Viet Nam, HVG said its domestic market grew 20 per cent over the same period in 2015, in which revenues from aquaculture increased 2.5 times.
According to the HVG financial statement, the company saw VND226.4 billion in profits after taxes for the quarter, an increase of 17.4 times over the same period last year, when the firm suffered losses of VND13 billion.
In the nine months from October 1, 2015 to June 6, 2016 the firm reported sales of VND14.94 trillion, an increase of 26.5 per cent, and profits after taxes of VND244 billion, an over four-fold increase compared to the same period last year.
Accordingly, the firm has carried out 63 per cent of its plan, as pledged during its general shareholders meeting.
On July 27, shares of HVG rose more than 15 per cent over the last three days to reach VND11,400 on the HCM City Stock Exchange.
