April 25, 2011

Vietnam seafood firm AAM posts Q1 profit

Mekong Fisheries JSC (AAM), listed on the Hochiminh Stock Exchange, said it netted a profit of VND14.93 billion (US$0.72 million), 26.25% up from a year ago.

AAM's revenues increased 22.04% on year to VND125.86 billion (US$6 million) during Jan-Mar, AAM said in a quarterly financial report.

The three-month earnings per share was VND1,458 (US$0.07) compared to VND1,043 (US$0.05) in Q1, 2010.

AAM targets a pre-tax profit of VND51 billion (US$2.4 million) on revenues of VND550 billion (US$26.4 million) this year.

The company netted a profit of VND45.67 billion (US$2.2 million) on revenues of VND527.72 billion (US$25.3 million) last year. Foreigners held a combined 1.44% stake in AAM as at April 21.