Hung Vuong Corp predicts VND700 billion of profit in 2014
(pangasius-vietnam.com) Hung Vuong Corporation (Hung Vuong Corp – HOSE code: HVG) expects to reach VND14,000 billion of net turnover and VND700 billion of profit before tax in 2014, according to a plan newly approved by the company's Administrative Council.
This year, Hung Vuong Corp also targets to farm 200 thousand MT of raw pangasius and process 115 thousand MT of frozen pangasius fillets. Annual fish exports are set at 100 thousand MT. Shareholders will receive 10 percent of dividend yield by cash and other 20 percent will be paid to them by shares.
Hung Vuong Corp plans to buy more 6 million of shares of An Giang Fisheries Import and Export Joint Stock Company (Agifish – HOSE code: AGF) at a price of VND22,000 per share. Its objective is to raise its proportion of shares in Agifish and bring back high benefits to Hung Vuong's shareholders. If the transaction is made, Hung Vuong Corp will hold 74.89 percent of Agifish's shares.
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