Sales of Sao Ta soar in August on rising shrimp consumption
Sales of Sao Ta soar in August on rising shrimp consumption
Sao Ta Foods JSC posted a notable rise in shrimp product consumption in August, propelling its monthly total sales to surge by over 35 per cent from the previous year.
Workers packaging shrimp products at a plant of Sao Ta Foods. — Photo cafef.vn |
Sao Ta Foods marked a remarkable increase in production, to 3,450 tonnes of processed shrimp, up 74 per cent year-on-year.
The growth was primarily fuelled by the company's strategic partnerships, prompting an uptick in processing to meet delivery timelines.
The company is also finalising harvests at its aquaculture facilities and enhancing ponds for the upcoming farming season.
In contrast, its agricultural output for the month dipped by 42 per cent to 44 tonnes.
Sao Ta's consolidated sales for August hit US$30.38 million, a 35.7 per cent gain from last year. This achievement marked the second consecutive month in 2024 where the company exceeded the $30 million sales threshold, following July's $31.25 million.
The latest business report showed that the company recorded consolidated revenue of VNĐ1.24 trillion in the second quarter, a 20 per cent uptick from the previous year, driven by a surge in export revenues. Profit before tax also soared to VNĐ83.6 billion, up eight per cent year-on-year.
For the first half of 2024, Sao Ta's total revenue soared 32 per cent from last year to VNĐ2.7 trillion, with aquaculture sales revenue reaching more than VNĐ2.6 trillion, a 34 per cent rise. Its profit before tax amounted to VNĐ141 billion, up 10 per cent year-on-year, achieving 44 per cent of the annual target.
In 2024, Sao Ta set its sights on a five per cent rise in total sales to reach $210 million, alongside a 5.2 per cent increase in consolidated profit before tax to VNĐ320 billion.
To achieve these goals, the company will focus on Japan as a key long-term market and enhance its processed shrimp offerings.
It also leverages its large shrimp farming capacity and self-reliance on raw materials to fulfil signed agreements efficiently.
On the market, shares of Sao Ta ended Tuesday at VNĐ46,750 per share, up 0.11 per cent from the previous session.
