July 12, 2011

Minh Phu Seafood's revenue shows 70% increase

Minh Phu Seafood Corporation, Vietnam's top shrimp exporter, reported revenues of US$134.41 million from exports in the first half of this year, surging 70.16% on-year.

It exported over 11,197 tonnes of shrimp during the period from January to June, up 46.15% on year, the firm said on its website.

It targets a consolidated net profit of VND615.5 billion (US$30 million) on revenues of VND7.52 trillion (US$365.9 million), and export revenues of US$360 million this year.

The Hochiminh Stock Exchange-listed company plans to issue 30 million new shares or convertible bonds in 2011 or 2012 in a move to hike its capital base to VND1 trillion (US$48.6 million) from VND700 billion (US$34 million).