(seafood.vasep.com.vn) The Board of Directors of Minh Phu Seafood Corporation (MPC) has approved the establishment of a subsidiary in Australia, named MP Seafood Australia Pty Ltd.
The subsidiary will be located at Unit 606, 11 Fishburn Crescent, Castle Hill, NSW 2154, Australia, with charter capital of USD 100,000 (equivalent to AUD 150,000), fully owned by Minh Phu. Mr. Phan Vinh Hien, former Investment Director of Minh Phu, has been appointed as the company’s Director.
Australia is one of Minh Phu’s key export markets. In the first half of 2025, revenue from this market reached nearly VND 858.8 billion, accounting for 13.2% of the company’s total revenue, though down nearly 21% from the same period last year.
As of June 30, 2025, MPC operated 16 subsidiaries in farming, ports, supply chain, broodstock, biotechnology, and seafood. Some overseas subsidiaries include Mseafood Corporation (US) and Ebisumo Logistic (Japan).
According to the consolidated financial report for the first half of 2025, Minh Phu posted net revenue of VND 6,468 billion, nearly unchanged year-on-year. Thanks to significant cuts in selling and administrative expenses, along with higher production and sales of value-added products, net profit surged fourfold to VND 177 billion.
For 2025, MPC targets a production volume of 60,000 tons, with projected revenue of over VND 15,667 billion, profit before tax of VND 1,091 billion, and net profit of around VND 997 billion. By mid-year, the company had completed 41% of its revenue target and nearly 18% of its net profit target.
At its annual general meeting in late June, MPC’s management stated that after resolving inventory issues, the company would focus on developing value-added products—its competitive advantage—rather than competing on raw material prices with Ecuador and India, the two largest shrimp exporters worldwide. MPC also plans to automate and upgrade production lines at its plants.
At the close of the morning session on September 24, MPC shares stood unchanged at VND 16,800 per share.