AsemconnectVietnam - After two consecutive quarters of loss, Minh Phu Seafood Corporation (code MPC - UPCoM) recorded profit again in Q1/2025 and still had outstanding debt of VND2,918 billion as of March 31, 2025.

In Q1/2025, Minh Phu Seafood recorded revenue of VND2,847.18 billion, up 3.5% over the same period, profit after tax reached VND 17.68 billion, up 142.9% over the same period last year. In which, gross profit margin decreased from 9% to 8.9%.
During the period, gross profit increased by 2.3% over the same period, equivalent to an increase of VND5.79 billion, to VND252.28 billion; Financial revenue increased by 91%, equivalent to an increase of VND 14.84 billion, to VND31.15 billion; financial expenses increased by 16.7%, equivalent to an increase of VND8.09 billion, to VND56.42 billion; sales and administrative expenses decreased by 24.9%, equivalent to a decrease of VND58.38 billion, to VND176.09 billion and other activities fluctuated insignificantly.
Thus, the strong profit contribution in the first quarter of Minh Phu Seafood mainly came from reducing sales and administrative expenses.
It is known that Minh Phu Seafood has just experienced two consecutive quarters of loss when the third quarter of 2024 recorded a loss of VND90.1 billion and the fourth quarter of 2024 continued to lose VND190.47 billion.
In terms of asset size, as of March 31, 2025, Minh Phu Seafood's total assets decreased by 10% compared to the beginning of the year, equivalent to a decrease of VND955.9 billion, to VND8,580.9 billion. Of which, inventories were recorded at VND3,452.6 billion, accounting for 40.2% of total assets; fixed assets were recorded at VND1,971.4 billion, accounting for 23% of total assets; short-term receivables were recorded at VND1,256.4 billion, accounting for 14.6% of total assets; long-term unfinished assets were recorded at VND1,095.8 billion, accounting for 12.8% of total assets and other items. During the period, assets fluctuated strongly, mainly short-term receivables decreased by 17.1% compared to the beginning of the year, equivalent to a decrease of VND260 billion, to VND1,256.4 billion; Inventory decreased by 12.2% compared to the beginning of the year, equivalent to a decrease of VND481.7 billion, to VND3,452.6 billion...
In addition, in terms of capital, by the end of the first quarter, the total short-term and long-term debt of Minh Phu Seafood decreased by 10.8% compared to the beginning of the year, equivalent to a decrease of VND354.9 billion, to VND2,918 billion and equal to 59.2% of total equity. Of which, short-term debt was VND2,791.3 billion and long-term debt was VND126.7 billion.
N.Nga
Source: VITIC/Tinnhanhchungkhoan