Minh Phu Seafood Corp: consolidated revenue reached VND 4,554 billion
(vasep.com.vn) In Q3, consolidated revenue of MPC reached VND 4,554 billion, up VND 907 billion, equivalent to 25% year on year. Gross profit increased to VND 534 billion, up 34% year on year. Profit after tax reached VND 198 billion, up 50% year on year.
Cumulative sales of Minh Phu in 9 months reached approximately VND 10,800 billion, up 50% year on year. Gross profit increased by 84% to VND 1,467 billion. Costs did not increase, therefore, pre-tax profit of MPC in 9 months reached VND 778 billion, up 153% year on year. Net profit increased to VND 565 billion.
Recently the company has planned to issue corporate bonds worth VND 500 billion. These are 3-year duration, unmortgaged and non-convertible bonds. In April 2014, the issuance of convertible bonds was passed by annual shareholder meeting. In addition the company also decided to purchase at most 1.6 million of treasury bonds.