November 8, 2011

Sao Ta Foods posts income of US$72 million

Sao Ta Foods JSC (FMC) said it earned revenues of US$72 million between January and October this year, reaching 90% of its full-year target.

The company produced 1,050 tonnes of shrimp in October, making revenues of US$9.3 million, the newspaper reported on November 7.

FMC earned a net profit of VND9.22 billion (US$439,000) on revenues of VND1.3 trillion (US$61.9 million) in the first nine months of this year, up 53.7% and 35.4% on year, respectively.

The seafood company targets a pre tax profit of VND30 billion (US$1.4 million) on revenues of VND1.68 trillion (US$80 million) this year, up 17% and 13% on year, respectively.