November 22, 2011


Vietnam's MPC's net profit down 17%


Minh Phu Seafood Corporation (MPC) said it made a consolidated net profit of VND210.5 billion (US$10.2 million) in January-September of 2011, falling 17% from a year earlier.


Revenues soared 58.3% on year to VND4.86 trillion (US$231 million) during January-September, it said in its consolidated quarterly financial report.


High prime, financial and sales costs were attributed to the company's profit fall. The nine-month earnings per share were VND2,933 (US$0.14).


In the third quarter, MPC earned a net profit of VND121.22 billion (US$5.8 million) on revenues of VND1.98 trillion (US$94.2 million), down 19.7% and up 37.5% on year, respectively.


Its total assets increased 25.7% from end-2010 to VND4.89 trillion (US$233 million), including equity of VND1.46 trillion (US$69.5 million) at end-Sept.

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