CL-FISH CORP plans to quadruple its pre-tax profit in 2022

(seafood.vasep.com.vn) Cuu Long Fish Joint Stock Company (CL-FISH CORP) expects to make a profit of 200 billion dong in 2022, 4 times more than last year. Instead of investing outside the business, the corporation focused its efforts on cultivating and processing pangasius for export.
CLFISH CORP plans to quadruple its pretax profit in 2022
CL-FISH CORP plans to quadruple its pre-tax profit in 2022

Cuu Long Fish Joint Stock Company establishes a business strategy in 2022, according to documents from the 2022 Annual General Meeting of Shareholders, with targets simultaneously accelerating. In particular, net revenue is predicted to increase by 20% to VND 1,450 billion, with a pre-tax profit of VND 200 billion (4 times higher than last year).

According to CL-FISH CORP, the company plans to continue focusing its resources on cultivating and processing pangasius for export in 2022, rather than investing outside the sector. In addition, the company intends to expand in all aspects of production and commercial operations, diversifying pangasius products with the objective of introducing pangasius to new markets.

In 2021, CL-FISH CORP’s net revenue increased 27% as compared to the previous year, to more than 1,213 billion VND with net profit increased by 51%, reaching nearly 43 billion VND. Total export volume reached 10,402 tons.

Regarding its business strategy in 2021, ACL expected to earn VND 1,400 billion in sales and VND 80 billion in pre-tax profit. The firm therefore have achieved 87% of their revenue target and 59% of their profit-before-tax target in 2021, compared to the plan.

In addition, this pangasius producer and exporter also plans to pay dividends in 2021 and 2022 at least 10% (1,000 VND/share).

Notably, embracing the strong rising wave of pangasius firms in the previous 2 months, ACL's stock price "galloped" and closed the session on March 25 at 23,550 VND/share, up 30% from the start of the year. This is also the record high price range since it was first listed (September 5, 2007).

Compiled by Khanh Linh


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