July 6, 2009

Vietnam Minh Phu 1H shrimp exports up 17 percent

Vietnam's Minh Phu Corp. exported more than 5,500 tons of frozen shrimp products in the first half, up 17 percent on year, a company official said Friday (July 3).


Minh Phu deputy general director Le Van Diep said despite the increase in exports, total revenue between January and June fell to around US$58 million from US$59.8 million because of a decline in prices.


Diep said the company is on track to meet its VND206 billion (US$11.57 million) net profit target for this year.


He added that the company's key export markets are Japan, the US, Australia, South Korea and Canada.


US$1 = VND17,797 (July 6)