Specifically, revenue in the quarter reached VND 1,064 billion, an increase of 22.6% compared to the second quarter in 2018, while the increase in COGS was much lower, only 12.1%, leading to gross profit from sales and service provision reached 224.5 billion, up to 81% over the same period in 2018. In the revenue structure of Nam Viet, export revenue was over VND 837 billion, accounting for 79% of total revenue and up by 23.9% over the same period last year.
Financial revenue in the whole quarter reached VND 18.5 billion, down VND 13.2 billion compared to the same period mainly due to reduced interest on deposits received, and especially did not record interest on liquidation of shorter-term investments with 6 billion as the second quarter in 2018. Financial expenses also decreased by VND 7.6 billion compared to the same period because it was not impacted by exchange rate difference as in the second quarter of last year (over VND7.5 billion).
Administrative expenses in the period recorded more than 7 billion VND, while the figures in the second quarter in 2018 was 39.5 billion VND.
As a result, Nam Viet reported after-tax profit of VND 152.7 billion, an increase of 30% compared to the same period in 2018.
In the first 6 months of 2019, Nam Viet revenue reached 1,975 billion VND, up 17.3% over the same period and achieved 39.5% of the year plan. Profit after tax reached VND 353 billion, surging 82.5% compared to the first half of last year and fulfilling more than 50% of the year profit target.
Closing stock increased more than 42% compared to the beginning of the year, to over 1,372 billion VND.
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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