Agifish: Q1 profits rocket fivefold year on year

The rocket in Agifish’s profits is attributed to operation restructuring implemented by Hung Vuong Corp after acquiring Agifish, which helped cut down management and other costs.

Agifish sets 2010 targets of VND1,500 billion in revenue, VND80 billion in pre-tax profits, ROE of 62.2 percent, US$60 million worth of seafood product exports, and US$20 million worth of material imports.

Agifish’s Board of Directors plans to pay 2010 dividend at 30 percent, of which 20 percent in cash, and 10 percent in shares, as well as issuing shares at 3-for-1 ratio for the charter capital raise.

Agifish posted pre-tax profits of VND18 billion on net revenue of VND1,334.29 billion in 2009.

Agifish