June 29, 2011

Vietnam shrimp exporter MPC estimates pretax profit of US$11.6 million

Minh Phu Seafood Corporation (MPC) estimates it has made a pretax profit of VND240 billion (US$11.65 million) in the first half of this year.

Its export revenues are estimated at US$140 million between January to June.

MPC, Vietnam's top shrimp exporter, targets a consolidated net profit of VND615.5 billion (US$299,000) on revenues of VND7.52 trillion (US$366 million) this year, and export revenues of US$360 million.

The company plans to issue 30 million new shares, or convertible bonds, in 2011 or 2012 in a move to hike its capital base from VND700 billion (US$34 million) to VND1 trillion (US$49 million).