Minh Phu Seafood earns $35m pre-tax profit
Minh Phu Seafood earns $35m pre-tax profit
Minh Phu Seafood Corporation (MPC) recorded a pre-tax profit of VND800 billion (US$35 million) last year, 24 per cent higher than the year’s plan, online newspaper nguoiduatin.vn reported.
During the reviewed period, MPC reached over VND21.42 trillion of net revenue and VND15.85 trillion of export turnover, a year-on-year increase of 30 per cent.
Specifically, Minh Phu Ca Mau Factory, the leading unit in the system of nearly 20 companies of the corporation, recorded revenue of nearly VND11.67 trillion, pre-tax profit of VND566 billion and export turnover of over VND7.57 trillion.
Minh Phu Hau Giang Factory posted VND9.76 trillion of revenue, VND226 billion of pre-tax profit and over VND8.25 billion of export turnover.
This year, MPC targets to export 63,000 tonnes of shrimp and to hit an export turnover of $800 million.
Speaking at a recent conference to summarise the group’s business results, Le Van Quang, chairman of MPC, said if the group maintains the same growth rate as 2017 with an export turnover of around $700 million, the target of hitting $1 billion export turnover is reachable.
Founded in 1992, MPC is not only known as “the King of Shrimp” in Viet Nam, but is also among the leading shrimp exporters in the world.
On October 2017, MPC officially listed its stock on the Unlisted Public Company Market (UPCoM) after two years, voluntarily delisting from the HCM City Stock Exchange (HoSE).
The group plans to organise the annual shareholders’ meeting on March 10.
