October 31, 2011

Cadovimex's losses reach US$1.62 million

Cadovimex Seafood Import-Export and Processing JSC (CAD), incurred a loss of VND33.8 billion ($1.62 million) from January-September this year, compared to a net profit of VND3.44 billion (US$164,000) in the same period last year.

Revenues slid 66.8% on year to VND212.37 billion (US$10.2 million) from January-September, it said in its quarterly financial report.

In the third quarter, CAD made a loss of VND9.86 billion (US$471,000) on revenues of VND94.92 billion (US$4.6 million), versus a net profit of VND8.21 billion (US$392,000) on revenues of VND254.2 billion (US$12.2 million) last third quarter.

Its total assets were VND641.55 billion (US$30.7 million), including equity of VND107.2 billion (US$5.1 million) at end September.