June 24, 2011

Vietnam's MPC targets 96% profit growth in 2011

Minh Phu Seafood Corporation (MPC), Vietnam's top shrimp exporter, has targeted a consolidated net profit of VND615.5 billion (US$29.9 million) this year, rising 95.6% from last year.

The company expects to produce 36,000 tonnes of shrimp products for export, bringing its total revenue to VND7.524 trillion (US$4 billion), as compared to VND5.11 trillion (US$2 billion) in 2010.

With a registered capital of VND700 billion (US$33.9 million), MPC earned US$107.48 million from overseas shipments in the first five months of this year, up 69.7% on year.