December 29, 2011


Vietnam's AVF's 2011 net profit target down 50%


Viet An JSC (AVF) has revised down its net profit target in 2011 by 50.8% to VND80 billion (US$3.8 million) from VND162.69 billion (US$7.74 million) it set earlier.


Its revenues target was kept unchanged at VND1.82 trillion (US$86.6 million), AVF said in a statement sent to the bourse.


AVF has approved to delay its plan on raising registered capital to VND300 billion (US$14.3 million) this year due to unfavourable conditions of the stock market at this time.


Earlier, the seafood firm planned to issue new shares to pay dividend at a 1-for-3 ratio for the capital hike.


AVF made a net profit of VND32.73 billion (US$1.6 million) on revenues of VND536.9 billion (US$25.6 million) in the third quarter of this year, up 26% and 33.5% on year, respectively, excluding those of its affiliates.

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