August 25, 2011

Vinh Hoan's H1 2011 profit rises twofold

Vinh Hoan Joint Stock Company (VHC) made a consolidated net profit of VND217.1 billion (US$10.5 million) in the first half of 2011, doubling the previous year's returns.

Revenues rose 26% on-year to VND1.87 trillion (US$89.72 million) during Jan-June, VHC said in its consolidated quarterly financial report.

The six-month earnings per share was VND4,461 (US$0.214), compared to VND2,994 (US$0.14) in last H1.

In the second quarter, VHC earned a net a profit of VND127.3 billion (US$6.11 million) on revenues of VND931.4 billion (US$44.69 million), up 92% and 17% on-year, respectively.

In 2011, the seafood exporter targets a net profit of VND250 billion (US$12 million) on revenues of VND4.2 trillion (US$201.51 million).