Lack of production materials and flagging export value have caused seafood companies to suffer losses in the third quarter of this year. In the first nine months of 2019, the country’s total seafood exports were estimated at nearly $6.3 billion, down slightly by 0.8 per cent against last year. — Photo tinnhanhchungkhoan.vn The Dong Thap Province-based Vinh Hoan Company (VHC), the largest tra fish exporter in Viet Nam, saw post-tax profit drop by 58.3 per cent year-on-year in Q3, reaching VND254 billion (US$10.9 million). VHC’s net revenue also dropped by 25 per cent against last year, totalling VND1.88 trillion. The company attributed the sharp fall in profit in the third quarter to the significant decrease in export volume. VHC’s revenue from exports declined from $40 million in June to $22 million in September. In the first nine months, net revenue at VHC decreased by 13 per cent to VND5.69 trillion, while post-tax profit fell by over 5 per cent to VND981 billion. Minh Phu Seafood Joint Stock Company (MPC), one of the world’s biggest shrimp firms involved in farming, processing to sales, also experienced a plunge of 31 per cent in gross profit in Q3 to VND249 billion. MPC’s net… Read full this story
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