April 19, 2011

Vietnam seafood firm ABT posts rise in Q1 profit

Vietnam's Bentre Aquaproduct Import and Export JSC (ABT), listed on the Hochiminh Stock Exchange, made a net profit of VND30.03 billion (US$1.4 million) in the first quarter this year, up 34.64% from the same period last year.

Revenues fell 14.12% on year to VND152.62 billion (US$7.29 million) during the period, ABT said in its quarterly financial report.

The three-month earnings per share this year is VND2,207 (US$0.12), compared to VND1,967 (US$0.09) in Q1, 2010.

In 2011, ABT targets a net profit of VND85 billion (US$4.1 million) on revenues of VND700 billion (US$33.4 million), compared to VND93.88 billion (US$4.5 million) and VND685.2 billion (US$32.7 million) in 2010, respectively.

The seafood export firm had a market capitalisation of VND551 billion (US$26.3 million) and foreigners held a combined 14.45% stake as at April 15.