(seafood.vasep.com.vn) On 13th Jan 2017, Saota Foods Joint Stock Company (Fimex VN- stock code FMC) held its annual shareholder meeting 2017 at the company headquarter in Soc Trang province (Vietnam).
As reported by the Board of Directors, in 2016, the company completed its plan, with an increase in production and sales.
FMC reported good harvest of shrimp with the profit of nearly VND14 billion.
In 2016, processing plants focused on upgrading and changing production equipments so that the production of finished agricultural products reached only 693 MT, down slightly from the same period 2015 and its export turnover hit US$2.6 million, down 16% year on year.
In Jan-Sep 2016, total sales of FMC amounted to US$105 million, up 5% over a year before. The company earned VND78 billion in profit before tax, down 8% year on year.
In 2017, shrimp farming, shrimp processing and agro-processing remain as key activities of FMC. However, frozen seafood processing for exports will be a new activity of the company.
Accordingly, the company targeted to gain US$150 million in sales in 2017, up 7.1% from 2016. FMC expected to hit at least VND100 billion in profit before tax and its stock dividend payment of 20% in cash or shares.
Compiled by Dieu Thuy