May 20, 2011

Viet Nhat Seafood Corporation's net profit shows decrease

Viet Nhat Seafood Corporation (VNH) earned a net profit of VND1.01 billion (US$480,000) in the first quarter of 2011, falling 9% from the same period last year.

Revenues increased 30.5% on year to VND16.3 billion (US$800,000) during Jan-Mar, VNH said in its quarterly financial report.

The three-month earnings per share was VND126 (US$6.1) versus VND138 (US$6.6) in the first quarter of 2010.

This year, the firm targets a net profit of VND13 billion (US$600,000) and a dividend payout equivalent to VND1,400 (US$67.4) per share.