AsemconnectVietnam - The Board of Directors of Minh Phu Seafood Corporation (code MPC) has just approved the plan to establish a subsidiary in Australia named MP Seafood Australia Pty Ltd.

The subsidiary is located at Unit 606, 11 Fishburn Crescent, Castle Hill, NSW 2154, Australia. This company has a charter capital of 100,000 USD (equivalent to 150,000 AUS) with Minh Phu Seafood as the parent company, owning 100% of the charter capital. Mr. Phan Vinh Hien, former Investment Director of Minh Phu, was appointed as Director of the company.
Australia is one of Minh Phu's key export markets. In the first half of 2025, this market brought in nearly VND858.8 billion in revenue for the Company, accounting for more than 13.2% of total revenue, but compared to the same period last year, revenue in Australia decreased by nearly 21%.
As of June 30, 2025, MPC has 16 subsidiaries operating in the fields of aquaculture, ports, supply chains, breeds, biological products, seafood, etc. Some subsidiaries operate in foreign markets such as Mseafood Corporation (USA) and Ebisumo Logistic (Japan).
Regarding Minh Phu's business situation according to the consolidated financial report for the first 6 months of the year, the Company's net revenue reached VND6,468 billion, not much changed compared to the same period last year. Thanks to a significant reduction in sales and administrative costs, while promoting the production and sale of value-added products, the company's after-tax profit has increased 4 times over the same period, reaching VND177 billion.
This year, Minh Phu aims for an output of 60,000 tons with an expected revenue of more than VND15,667 billion. The pre-tax profit target is expected to reach over VND1,091 billion and after-tax profit about VND997 billion. Thus, after the first half of the year, MPC has only completed more than 41% of the revenue target and nearly 18% of the after-tax profit plan.
At the annual general meeting of shareholders at the end of June, Minh Phu leaders said that after basically solving the inventory problem, this year the Company will focus on developing value-added products which are its strengths, instead of competing on raw material prices with Ecuador and India - the two largest shrimp exporting countries in the world. In addition, MPC will automate and upgrade production lines at factories.
N.Nga
Source: VITIC/Tinnhanhchungkhoan