FIMEX VN sales reached VND 435 billion in April, shrimp consumption is forecasted to increase sharply in May

According to the April business results announced by Sao Ta Food Joint Stock Company (FIMEX VN), the output of processed shrimp products reached 1,742 tons, up 8% over the same period last year. The output of finished agricultural products increased by 28% over the same period last year, reaching 233 tons thanks to the fact that Tam An Factory went into operation.

April sales were USD 18.9 million (about VND 435 billion) and increased by 10% over the same period last year. Accumulated from the beginning of the year to the end of April, sales reached 77.6 million (about VND 1,782 billion).

Enterprises commented that, in general, this month there was no sudden change in activity due to the period of material seasonality. During the month, Sao Ta has harvested 50 shrimp ponds, the remaining ponds will be completed within the next 40 days, and then will continue to stock the second crop. Besides, the new 52 ha area is in the process of making a pond, which will be completed and stocked in the second crop.

The enterprise also said that it is currently focusing on completing the establishment of the new factory. From May, activities will clearly improve, especially the agricultural product segment, until the time of mass delivery and shrimp from the farm will focus on harvesting. The output of processed and consumed shrimp also has potential to increase sharply.

At the end of the first quarter, Sao Ta's net revenue reached VND 1,327 billion, and profit after tax reached VND 42 billion, both increasing by 37% over the same period last year thanks to increased sales as well as raw material reserves and signed contracts. The contracted freight rates are expected to experience fluctuations.

Compiled by Minh Trang

Image source: Sao Ta