Minh Phu Seafood Corp: 10-fold profit increase in H1
(vasep.com.vn) In the first half of 2014, Minh Phu Seafood Corp (Stock code: MPC at HOSE) earned over VND 6,244 billion, up 70 percent year on year, in which its revenue in Q2/2014 accounted for nearly VND 3,452 billion. Gross profit of Minh Phu Seafood Corp, therefore doubled, reaching VND 933 billion.
Profit before tax for Minh Phu Seafood Corp in H1 was reported at over VND 506 billion, which is 10 times as high as same period last year. Profit after tax of the Parent Company was approximately VND 368 billion, as 15 times as much as H1 of 2013.
Minh Phu participated in promotion activities of VIETFISH 2014 (Vietnam Fisheries International Exhibition) as the top fisheries processer and exporter of Vietnam. In three days of VIETFISH, the estimated number of visits to Minh Phu was 1,500, many of vistors are potential customers. According to Minh Phu, this year saw most vistors from Europe, Middle East, South Korea with more promising deals.
Through the fair, Minh Phu Seafood Corp found the huge domestic market demand. The biggest problem is that consumers do not know much about supplier reputation, and products achieving food safety standards. Consequently, Minh Phu has setup domestic sales department. The company commits to supply domestic market with best quality products, regardless of the boundary between exports and domestic trades. In the framework of Vietfish 2014, Minh Phu Seafood Corp was recognized as 4-star BAP for Best Aquaculture Practices. The certificate was given by Mr. Carson Roper, Representative of Global Aquaculture Alliance (GAA).