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
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(seafood.vasep.com.vn) The first 700 tons of Vietnamese tilapia ordered and imported by JBS Group will initially be distributed through supermarket chains, the Horeca network and JBS’s product showrooms in Brazil.
(seafood.vasep.com.vn) In October 2025, Vietnam’s pangasius exports hit $217 million, representing an 8% increase compared to the same month in 2024. For the first 10 months of the year, total export value has surpassed $1.8 billion, up 9% year-on-year. This growth demonstrates clear positive momentum for the pangasius industry, despite continued declines in certain markets.
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(seafood.vasep.com.vn) On October 31, 2025, the US Court of International Trade (CIT) officially issued an order to suspend the case filed by the National Fisheries Institute (NFI), the National Restaurant Association (NRA), and several US seafood companies against the US Government concerning the implementation of the Marine Mammal Protection Act (MMPA).
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(seafood.vasep.com.vn) Vietnam’s pangasius export value in September 2025 reached USD 181 million, up 5% compared to the same period in 2024. The overall trend for the pangasius industry remains positive, with total exports in the first nine months of 2025 reaching nearly USD 1.6 billion, an increase of 9% year-on-year.
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