May 7, 2011

Vietnam's MPC posts increase in export revenues

Minh Phu Seafood Corporation (MPC), Vietnam's top shrimp exporter, raked in nearly US$81.37 million from exports in the first four months of this year, up 73.35% from the same period last year.

It exported over 6,836 tonnes of shrimp during the period, up 56.81% on year, the firm said on its website.

With a registered capital of VND700 billion (US$34 million), MPC targets a net profit of VND615.5 billion (US$30 million) this year versus VND312.54 billion (US$15.2 million) last year. It expects to produce 36,000 tonnes of shrimp products for export, bringing export turnover of US$360 million, and net revenues of VND7.524 trillion (US$366 million).

Traded on the Hochiminh Stock Exchange (HOSE), the company had a market capitalisation of VND1.673 trillion (US$81 million) and a 16.46% stake held by foreigners as at May 5.