Loading...
SUPA Youreverydayfish Pangasius VietFish
Go
Pangasius
Print:
Share:
Vinh Hoan Corp targets to achieve VND1 trillion in profit after tax by 2019
May 29, 2017, 11:05 AM
(seafood.vasep.com.vn) Vinh Hoan Corp, the leading pangasius company of Vietnam, expected to achieve an average annual revenue and profit growth rate of 15% per year in the context of scarce raw material and high prices.

At the Annual General Meeting of Shareholders held on 5th May 2017, Ngo Nguyen Vi Tam - General Director of Vinh Hoan Corporation (VHC) said in early 2016, VHC targets increase by 15-20% per year in its sales in the next three years. The company also targeted to achieve VND1 trillion in profit after tax by 2019.

In 2016, consolidated sales of VHC came to VND7,303 billion, of which the export value accounted for more than 86% and maintained a steady growth for a decade. Profit after tax was more than VND567 billion, up 75% over the previous year. These were mainly driven by applying a close model, raising the rate of self-sufficiency of materials by 65% ​​to reduce costs, especially in the months of scarce raw materials due to unfavorable weather and the developing high-quality products, value-added products with high profit margin. While the average selling price of companies decreased slightly, that of Vinh Hoan's products did not fluctuate, about 50% higher than the average.

By the end of 2016, the company exported its products to more than 40 countries, up 5 new markets year on year, in which, sales to Japan and Mexico recorded a tremendous growth. However, exports to the U.S, the main importing market, reduced its proportion to 58%. Meanwhile, in 2016, exports of the company to China climbed up 30% thanks to high demand.

www.vinhhoan.com

Compiled by Dieu Thuy

Source:
Print:
Share:
Other news
Seafood output hits 2.3 million tonnes in eight months (11/09/2017) Vietnam, Australia Increase Cooperation on Illegal Fishing (06/09/2017) Vietfish 2017 opening ceremony (06/09/2017)
Back to top
Specialist on Pangasius market
Ms Ta Ha
Tel:+84.24.3771.5055 (ext. 214)
Portal of Vietnam Association of Seafood Exporters and Producers (VASEP)
Add: 218 Road Nguyen Quy Canh, Zone A, An Phu An Khanh New Urban Area, District 2, HCM city, Vietnam
Tel: (+84 8) 62810430 / Fax: (+84 28) 62810437 / Email: vasephcmcity@vasep.com.vn
In charge of content: Nguyen Hoai Nam (Mr) – Deputy General Secretary of VASEP
Managing Editor: Phung Thi Kim Thu (Ms.) Tel: (+84 24) 37715055 (ext: 203)
Email: kimthu@vasep.com.vn
RSS