Sao Ta Foods Joint Stock Company (FMC) has announced its operating results for October 2024.
According to the company, finished shrimp production in October reached 1,866 tons, down 27% year-on-year; however, finished shrimp sales rose to 2,043 tons, up 23%. Additionally, the company produced 75 tons of finished agricultural products and consumed 122 tons, down 44% and 11% year-on-year, respectively.
As a result, Sao Ta recorded total sales for October at $23.25 million, equivalent to 126% of the same period last year.
Furthermore, FMC's farms have been fully prepared and will begin stocking in mid-November when the weather conditions become favorable.
Previously, Sao Ta Foods announced its third-quarter 2024 business results with net revenue reaching VND 2,845 billion, up 58.6% year-on-year. Cost of goods sold also increased to VND 2,537 billion compared to VND 1,609 billion recorded in the third quarter of 2023. Sao Ta's gross profit also surged significantly from VND 184 billion to VND 307.6 billion.
Financial operating revenue saw a sharp drop of 57% to VND 8.9 billion. Meanwhile, various costs in the third quarter all increased substantially, especially selling expenses, which rose by 2.4 times to VND 166.6 billion compared to the same period.
Consequently, Sao Ta reported profit after tax of VND 94.8 billion, up 6% year-on-year.
For the first nine months of the year, the company achieved a revenue of nearly VND 5,548.5 billion, up 44.7% year-on-year. Net profit reached nearly VND 232 billion, up 10% compared to the first nine months of last year.
In 2024, Sao Ta Foods set a target of VND 5,187 billion in revenue and VND 320 billion in pre-tax profit. With a pre-tax profit of VND 231.8 billion after the first nine months of 2024, Sao Ta Foods has exceeded its revenue plan and completed 72.4% of its profit plan.
As of the end of the third quarter, Sao Ta's total assets were recorded at VND 3,706 billion, up 10.4% compared to the beginning of the year. This growth was largely driven by short-term receivables, which rose by 110.8% year-to-date to VND 1,036.6 billion.
Meanwhile, inventory decreased by 22.6% compared to the beginning of the year, falling to VND 774.28 billion.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX) recently announced its production and business results for November 2024, showing a 5% year-over-year increase in revenue but a 21% decline compared to the previous month.
(seafood.vasep.com.vn) Soc Trang province underscores the critical role of the fisheries sector in driving its socio-economic development. Located along Vietnam's coastline, the province features 72 km of shoreline, three major estuaries—Dinh An, Tran De, and My Thanh—and a dense river network encompassing diverse ecosystems, including saltwater, brackish, and freshwater. These natural resources provide ideal conditions for the growth of aquaculture, making the fisheries sector a cornerstone of Soc Trang’s economic strategy.
(seafood.vasep.com.vn) In 2024, the pangasius industry in Dong Thap is projected to achieve a production value of VND 8.802 billion, marking a 2.86% increase compared to 2023 and accounting for over 17% of the province's total agricultural, forestry, and fishery production value.
(seafood.vasep.com.vn) Vietnam's tuna exports to Japan have seen robust growth over the past two months. Data from Vietnam Customs shows that in October 2024 alone, tuna exports to Japan surged by 31% year-on-year, reaching nearly USD 3.5 million. This growth has offset the decline experienced in the first half of the year, raising the total export value for the first ten months of 2024 to nearly USD 28 million, a 5% increase compared to the same period last year.
A business forum was held by the Dutch Embassy in Vietnam in collaboration with the Ministry of Agriculture and Rural Development (MARD) in the Mekong Delta city of Can Tho on November 27, seeking ways for sustainable aquaculture in the region.
(seafood.vasep.com.vn) On November 18, Ms. Truong Ha Phuong Anh, Director of the Center for Investment Promotion and Business Support (iPEC), stated that during the Ca Mau Province Agricultural and Aquatic Products Trade Promotion Conference 2024, held on November 15, there were 209 direct trade interactions between 42 seafood processing and exporting enterprises, OCOP producers in the province, and five leading domestic retail companies: Central Retail, Saigon Co.op, Kingfood Mart, Bach Hoa Xanh, and Satra Supermarket.
In 2024, the Binh Dinh Agricultural Extension Center successfully implemented a semi-intensive and intensive two-stage whiteleg shrimp farming model using Semi-Biofloc technology.
(seafood.vasep.com.vn) Recently, the area dedicated to super-intensive, high-density whiteleg shrimp farming in Trà Vinh Province has been rapidly expanding due to its high productivity and economic efficiency.
(seafood.vasep.com.vn) In collaboration with provincial authorities, specialized agencies, and local coastal governments, seafood processing and export enterprises in Binh Dinh Province are actively working to address issues related to illegal, unreported, and unregulated (IUU) fishing. The shared goal is to have the European Union's "yellow card" removed this year.
(seafood.vasep.com.vn) Ca Mau Province has affirmed its position as the "shrimp kingdom" of Vietnam, with the largest area for ecological shrimp farming in the country.
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