(seafood.vasep.com.vn) Vinh Hoan Corporation has recently announced its business results for October, reporting over VND 1,200 billion in revenue, a 60% increase compared to the same period last year.
Of this, pangasius—Vinh Hoan's main revenue source—contributed VND 750 billion, accounting for 60% of total revenue and marking a 70% year-over-year increase.
This outstanding performance is attributed to growth across all consumer markets. Notably, revenue from the U.S. market surged by 160% to VND 440 billion, while the domestic market saw a 22% increase, reaching VND 280 billion.
For the first 10 months of the year, Vinh Hoan's total revenue exceeded VND 10,500 billion, approaching the company’s baseline 2024 target of VND 10,700 billion. In a more optimistic scenario, the company aims for VND 11,500 billion in revenue, a 15% growth compared to 2023.
Vinh Hoan’s breakthrough began in Q3 2024, with the company recording strong pangasius sales as global markets entered a period of heightened imports. Pangasius has also become an attractive product as the price of Chinese tilapia continues to rise due to tightened supply.
However, the average export price has slightly decreased year-over-year, reflecting efforts to maintain competitive pricing and boost order volumes.
Vinh Hoan’s operations are expected to remain positive through the end of 2024.