February 16, 2012

A net profit of VND266.95 billion (US$12.8 million) was Minh Phu Seafood Corporation's (MPC) 2011 earnings, soaring 37.6% from a year earlier.

Revenues grew 44.7% on year to VND9.61 trillion (US$461.6 million) in 2011, MPC said in its quarterly financial report, excluding those of its affiliates.

The full-year earnings per share were VND3,814 (US$0.18).

In the fourth quarter, MPC earned a net profit of VND556.6 million (US$26,734) on revenues of VND2.78 trillion (US$133.5 million), down 97.3% and up 20.3% on year, respectively. High financial costs were attributed to the company's profit drop in the quarter.

Its total assets soared 74.7% from end-2010 to VND5.12 trillion (US$245.9 million), including equity of VND1.27 trillion (US$61 million) at end-2011.