June 26, 2013

Godaco Seafood targets $4.8m profit in 2013

Shareholders of the Vietnamese firm Godaco (Go Dang) Seafood Co (AGD) have approved the company's business plan for this year, targeting a revenue of VND1 trillion (US$47.6 million) and a net profit of VND100 billion ($4.8 million), up 18 per cent and 3.4 per cent respectively, over last year's targets.

To reach the profit, the company will install a second fish meal production line in Go Dang Ben Tre, costing VND30 billion (US$1.4 million) and purchase an extra 30 hectares of land for the production of raw materials, reportedly for VND60 billion (US$2.9 million).