(seafood.vasep.com.vn) Hung Hau Agricultural Corporation (HOSE: SJ1) announced its quarterly financial report in QIII/2016. Accordingly, net revenue in the period reached VND260.8 billion, a two-fold increase year on year. Despite higher cost of goods sold, its gross profit surged up to VND25.68 billion compared with VND13.8 billion in the same period of 2015.
After deducting expenses, net profit of SJ1 hit nearly VND11 billion, this was the highest level that the company has gained since listing. That was driven by an increase in its sales and different sales structure. Reportedly, SJ1 has renamed from Seafood Joint Stock Company No.1 to Hung Hau Agricultural Corporation since 1st June 2015 and expanded its business areas.
In the first 9 months of 2016, its net revenue totaled VND536.78 billion, up 40.2% over the same period. In the period, its profit after tax reached VND19.35 billion, 2 times higher than that in the same period last year, with its earning per share (EPS) of VND1,851.
As of 30th Sep 2016, inventories of SJ1 have increased sharply over the beginning of the period, in which, most of them are finished products.
In 2016, the company targeted to gain VND839 billion in revenue and VND31.68 billion in profit after tax, up 63.2% and 54.5% year on year, respectively. In Jan-Sep 2016, the company completed 64% of the plan in its sales and 75.3% in its profit before tax.
Website: http://agri.hunghau.vn/vi/
Written by Ngoc Thuy
Compiled by Dieu Thuy