By the end of Q3/2025, Vietnam’s seafood industry recorded a clear recovery as a series of leading companies reported strong profits — some even achieving the highest results in their history. After several quarters struggling with high costs and weakened demand, the latest business results indicate a robust comeback across the industry.
The most notable turnaround came from “shrimp king” Minh Phu (MPC). Despite Q3 net revenue falling 13% to VND 3.782 trillion, the company posted an impressive reversal with VND 228 billion in after-tax profit, compared to a heavy loss of VND 93 billion in Q3/2024.
This improvement was largely driven by a sharp decline in cost of goods sold, which boosted gross profit by 56% to VND 600 billion. Financial, selling, and administrative expenses were also reduced significantly, improving overall performance. Over the first nine months, Minh Phu earned VND 401 billion in profit, completing 40% of its annual target.
In the pangasius sector, Vinh Hoan Corp. (VHC) continued to maintain its leading position. In Q3, VHC’s net revenue rose 6% to VND 3.471 trillion. The highlight came from financial activities: financial income jumped from VND 56 billion to VND 116 billion, while financial expenses fell 75% to only VND 22 billion. As a result, after-tax profit grew 34% to VND 455 billion. Vinh Hoan attributed the strong profit increase to exchange rate gains, reversal of investment provisions, and lower interest costs.
Nam Viet Corp. (ANV) delivered its strongest quarter in history. Q3 revenue rose 50% to VND 2.007 trillion, bringing gross profit to VND 487 billion — the highest since the company was founded.
After-tax profit reached VND 283 billion, 10 times higher than the same period last year. Navico’s representative said improved market conditions and higher pangasius export prices boosted sales volume. Over the first nine months, pre-tax profit surged 13-fold to VND 857 billion.
Sao Ta Foods (FMC) reported an 18% increase in after-tax profit in Q3, reaching VND 111.8 billion. Although revenue grew only 5% to VND 2.989 trillion, gross margin improved to 14% as cost of goods sold rose more slowly than revenue. The company said profit growth was supported by a 51% increase in sales volume and cost reductions after settling its second shrimp crop.
Another representative of the pangasius sector, I.D.I International Development and Investment Corp. (IDI), also saw a strong rebound, with Q3 after-tax profit doubling to VND 35.5 billion — the highest in the past 12 quarters. Despite a 10% decline in revenue, IDI succeeded in optimizing production costs, increasing financial income, and significantly reducing interest expenses.
The impressive results across these companies reflect a broadly positive picture for the entire industry. By the end of Q3/2025, Vietnam’s seafood export value reached an estimated USD 2.7 billion, up 10% year-on-year. Over the first nine months, total seafood export turnover hit USD 8.36 billion, up 16%, demonstrating a solid recovery after a period of weakened global demand.