April 11, 2011

MPC reports Q1 export proceeds of US$55.86 million

Minh Phu Seafood Corporation (MPC) raked in US$55.86 million from overseas shipments in the first quarter, up 79.46% against the same period of the previous year.

It exported over 4,800 tonnes of shrimp during the period, up 65.57% on year, the firm said on its website.

In 2010, MPC exported 23,119 tonnes of shrimp valued at US$247.64 million in 2010.

With a registered capital of VND700 billion (US$33.48 million), MPC targets a net profit of VND615.5 billion (US$29.44 million) this year versus VND312.54 billion (US$14.95 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$359.87 million).

It is traded on the Hochiminh Stock Exchange (HOSE), with a market capitalisation of VND1.715 trillion (US$82.28 million) and a 16.17% stake held by foreigners as at April 7.