Minh Phu Seafood Corp has just announced its consolidated financial statements for the first quarter of 2022 with net revenue of VND 4,239 billion, up 50.8%. The gross profit margin improved from 8.8% to 11.6%.
The cost of goods sold increased by 46% to VND 3,747 billion, gross profit doubled over the same period to VND 491.8 billion. Financial revenue in the period decreased by 36.8% to 19.2 billion, while financial expenses jumped 24.4% to 32 billion.
Minh Phu Seafood reported a profit after tax of VND 91.2 billion, 3.4 times higher than the same period in 2021
At the end of the first quarter of 2022, Minh Phu Seafood Corp reported a profit after tax of 91.2 billion VND, 3.4 times higher than the same period in 2021. Selling expenses increased by 80% to 314.7 billion VND, and expenses for corporate management increased by 32.7% to 66.1 billion.
As of March 31, 2022, the total assets of Minh Phu Seafood Corp reached VND 9,647 billion, a slight increase compared to the beginning of the year. Most of which are short-term assets, reaching 7,100 billion VND (accounting for 73.6%). In which, inventories decreased by 12% to VND3,924 billion. Long-term assets increased 7% to VND 2,547 billion.
According to the annual report, Minh Phu sets a target of 21,018 billion VND in revenue, and 1,287 billion VND in profit after tax; respectively, increased by 55% and 96% compared to the implementation of 2021.
The company said it will continue to evaluate the trend of price fluctuations of main raw materials related to Minh Phu's the production and business activities, specifically the price movements of raw shrimp and finished shrimp in the world.
In addition, Minh Phu Seafood Corp focuses on speeding up the project of a high-tech industrial complex to develop a shrimp value chain with a scale of 10,000 hectares in Kien Giang. Thereby increasing the value of Minh Phu shrimp products.
In addition, this year, Minh Phu continues its strategy of diversifying shrimp consumption markets. Maintaining and clinging to main markets like the US, increasing shrimp export turnover to the EU market to take advantage of the EVFTA and UKVFTA agreements, bringing Minh Phu shrimp products to domestic consumers.
Previously, in mid-March, Minh Phu Seafood Corp decided to increase the charter capital of its subsidiary, Minh Phu Green Food Co., Ltd. from 2 billion VND to 50 billion VND from equity (equivalent to an increase of about 2 million VND). USD) to boost domestic market sales.
Compiled by Minh Trang
(seafood.vasep.com.vn) Can Tho City statistics indicate that in 2025, following the merger of three former administrative entities - Can Tho, Hau Giang and Soc Trang - fisheries output in 2025 increased by 6.23% compared with 2024 with aquaculture production nearly 9.1 times higher than capture fisheries.
(seafood.vasep.com.vn) According to the Ca Mau Department of Agriculture and Rural Development, Ca Mau province has achieved significant, comprehensive and substantive progress in combating IUU fishing in 2025, successfully fulfilling all tasks directed by the central government and strengthening fisheries governance. These efforts have established a solid foundation for the nationwide effort to lift the EC’s "yellow card" warning.
(seafood.vasep.com.vn) Ca Mau has exceeded its 2025 production targets, reaching nearly 595,000 tons of shrimp. This milestone reinforces the province’s position as Vietnam’s leading shrimp producer and a bright spot in the country’s seafood sector.
(seafood.vasep.com.vn) According to Vietnam Customs data, cumulative shrimp exports from the beginning of the year through November reached $4.3 billion, up 21% year-on-year, continuing to serve as the primary growth driver of the entire seafood sector. In November alone, export turnover amounted to $393 million, up 14%.
(seafood.vasep.com.vn) In 2025, the fisheries sector continued to stand out as a bright spot in Ca Mau’s economic landscape, maintaining positive growth in both output and value.
(seafood.vasep.com.vn) By the end of November 2025, Vietnam’s total pangasius export turnover had exceeded the $2 billion threshold, registering a 9% compared with the same period in 2024. In November alone, pangasius exports reached $195 million, also posting a 9% increase year-on-year, underscoring a stable recovery trajectory for the sector in the final months of the year.
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(seafood.vasep.com.vn) An Giang is focusing on expanding climate-adaptive marine aquaculture models, aiming for safe and sustainable production. This approach not only enhances economic efficiency but also helps fishermen stabilize their livelihoods amid weather fluctuations.
(seafood.vasep.com.vn) In the first 10 months of 2025, Vietnam’s pangasius export value to China (including Mainland China and Hong Kong) reached $483 million, up 1% compared to the same period in 2024. October alone posted $73 million, a strong 19% increase year-on-year. The Chinese market currently accounts for nearly 27% of Vietnam’s total pangasius export value.
(seafood.vasep.com.vn) According to data from Vietnam Customs, the country’s lobster exports posted another strong month in October 2025, reaching $93 million - a 75% increase from the same month in 2024. This performance extends the sector’s impressive growth streak from earlier in the year, pushing cumulative exports for the first 10 months to $712 million, up an extraordinary 135% year-over-year. Within the product mix, green lobster remained the dominant driver, accounting for 98% of total export value, with $700 million recorded in the first 10 months - a 141% jump year-on-year. In contrast, exports of spiny lobster and other lobster varieties declined slightly by 22% and 1%, respectively, indicating that market demand is becoming increasingly concentrated on the most sought-after product line.
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