Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us
   


Photo courtesy from Vasep

Minh Phu Seafood Corp reported a 3.4 times higher profit in the first quarter of 2022

Click on the flag for more information about Viet Nam VIET NAM
Friday, May 20, 2022, 07:00 (GMT + 9)

At the end of the first quarter of 2022, Minh Phu Seafood reported a profit after tax of VND 91.2 billion, 3.4 times higher than the same period in 2021.

Minh Phu Seafood Corp has just announced its consolidated financial statements for the first quarter of 2022 with net revenue of VND 4,239 billion, up 50.8%. The gross profit margin improved from 8.8% to 11.6%.

The cost of goods sold increased by 46% to VND 3,747 billion, gross profit doubled over the same period to VND 491.8 billion. Financial revenue in the period decreased by 36.8% to 19.2 billion, while financial expenses jumped 24.4% to 32 billion.

Minh Phu Seafood reported a profit after tax of VND 91.2 billion, 3.4 times higher than the same period in 2021

At the end of the first quarter of 2022, Minh Phu Seafood Corp reported a profit after tax of 91.2 billion VND, 3.4 times higher than the same period in 2021. Selling expenses increased by 80% to 314.7 billion VND, and expenses for corporate management increased by 32.7% to 66.1 billion.

As of March 31, 2022, the total assets of Minh Phu Seafood Corp reached VND 9,647 billion, a slight increase compared to the beginning of the year. Most of which are short-term assets, reaching 7,100 billion VND (accounting for 73.6%). In which, inventories decreased by 12% to VND3,924 billion. Long-term assets increased 7% to VND 2,547 billion. 

According to the annual report, Minh Phu sets a target of 21,018 billion VND in revenue, and 1,287 billion VND in profit after tax; respectively, increased by 55% and 96% compared to the implementation of 2021

Photo courtesy from Minh Phu Seafood Corp--->

The company said it will continue to evaluate the trend of price fluctuations of main raw materials related to Minh Phu's the production and business activities, specifically the price movements of raw shrimp and finished shrimp in the world.

In addition, Minh Phu Seafood Corp focuses on speeding up the project of a high-tech industrial complex to develop a shrimp value chain with a scale of 10,000 hectares in Kien Giang. Thereby increasing the value of Minh Phu shrimp products.

Photo courtesy from Vasep

In addition, this year, Minh Phu continues its strategy of diversifying shrimp consumption markets. Maintaining and clinging to main markets like the US, increasing shrimp export turnover to the EU market to take advantage of the EVFTA and UKVFTA agreements, bringing Minh Phu shrimp products to domestic consumers.

Previously, in mid-March, Minh Phu Seafood Corp decided to increase the charter capital of its subsidiary, Minh Phu Green Food Co., Ltd. from 2 billion VND to 50 billion VND from equity (equivalent to an increase of about 2 million VND). USD) to boost domestic market sales.

Author / Source: Compiled by Minh Trang / Vasep


 Print


Click to know how to advertise in FIS
MORE NEWS
Argentina
Jul 6, 07:00 (GMT + 9):
Without a new environmental impact report there is no offshore exploration
Russian Federation
Jul 6, 07:00 (GMT + 9):
Salmon imports fell 6 times and attempts are being made to support local production
China
Jul 6, 07:00 (GMT + 9):
12 million fish and crab fry were put into Taiping Bay
Viet Nam
Jul 6, 07:00 (GMT + 9):
Vasep held the 2022 General conference
Norway
Jul 6, 03:00 (GMT + 9):
Salmon Evolution: Q2 2022 Operational update
Argentina
Jul 6, 01:10 (GMT + 9):
INIDEP has found shrimp in the north
United States
Jul 6, 00:50 (GMT + 9):
Catches and prices │ Black cod / sablefish │ WOC │ 2020-21-22
United States
Jul 6, 00:50 (GMT + 9):
Weekly catches │ GOA/BSAI | Black cod / sablefish | 2021-22
United States
Jul 6, 00:40 (GMT + 9):
Catches DAP NMFS at BSAI │ Pacific cod │ Longline and pot | week 24
United States
Jul 6, 00:40 (GMT + 9):
DAP at BSAI-GOA | Atka Mackerel, Dusky Sole, Yellowfin Sole and Pacific Cod | week 24
European Union
Jul 6, 00:30 (GMT + 9):
Statistics │ Imports │ Pollock Fillets and surimi: USA, Vietnam, India, China, Russia │ 2021-22
United States
Jul 6, 00:30 (GMT + 9):
Total catch BSAI-GOA │ POP │week 24
Norway
Jul 6, 00:10 (GMT + 9):
Statistics│Export│Crabs: live-frozen │ by destination │ May 2021-22
Canada
Jul 6, 00:00 (GMT + 9):
Other Media | EuropaAzul: The moratorium on cod that was going to last 2 years now lasts 30
Spain
Jul 6, 00:00 (GMT + 9):
Other Media | Industrias Pesqueras: The octopus extractive campaign begins in Galicia



Lenguaje
FEATURED EVENTS
  
TOP STORIES
La Pampilla, crime and punishment
Peru In our always convulsed country, the issue of the oil spill produced by the La Pampilla Refinery of the Repsol Group, on January 15, was forgotten news, until a revelation shook us reminding us that a...
57% increase in imports of frozen cooked mussels (half shell)
South Korea As of May 2022, a total of 538,472 tons of imported seafood was imported, with 293 tons, or 0.05%, being frozen boiled mussels (half shell). The import volume of frozen cooked mussels (half shell) ...
New measures against IUU fishing and forced labour proposed
United States NOAA has proposed new measures aimed at illegal, unreported, and unregulated (IUU) fishing. These changes address two key tools, the US Moratorium Protection Act and the international Port States Meas...
Argentina will become a major food exporter to the BRICS countries
Argentina Argentina can become a reliable and one of the largest food exporters to the BRICS countries (Brazil, Russia, India, China and South Africa).   This is reported by TASS with reference to expert...
 

Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2022 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER