Tuesday, July 16,2024 - 18:42 GMT+7  Việt Nam EngLish 

Minh Phu Seafood (MPC) plans to return to profit in 2024 

 Friday, June 21,2024

AsemconnectVietnam - Minh Phu Seafood Group Joint Stock Company (MPC code - UPCoM) announced the document of the Annual General Meeting of Shareholders on June 22 when it planned a profit of VND1,265.7 billion.

In 2024, Minh Phu Seafood plans a revenue of VND18,568.7 billion, an increase of 72.5% compared to 2023; and profit after tax was VND1,265.7 billion compared to the same period, loss was VND105.07 billion, an increase of VND1,370.77 billion.
It is known that by the end of 2023, Minh Phu Seafood recorded a decrease in revenue of 34.45%, to VND10,767 billion and completed 84.19% of the plan; Profit after tax was negative to VND105.07 billion compared to the same period profit was VND832.18 billion and did not complete the profit plan of VND693.3 billion.
Regarding business orientation, Minh Phu Fisheries said it will perfect and promote shrimp seed production using MPBiO biotechnology, striving to produce 15 billion posts by 2035; Complete and promote commercial shrimp farming using MPBiO biotechnology, striving to self-supply 50% of raw shrimp needs for its processing plants by 2035.
Particularly in 2024, Minh Phu Seafood said that the global and Vietnamese economic forecasts still have many unpredictable fluctuations, but with a clear vision and direction along with the determination and consensus of the Company's workers, company, Minh Phu Fisheries will gradually achieve the set goals.
Regarding personnel, Minh Phu Seafood submitted to shareholders the dismissal of Mr. Hamaya Harutoshi as a member of the Board of Directors due to his resignation letter, whereas shareholder MPM Investments Pte. Ltd nominated Mr. Suzuki Yoshiaki.
Thus, the 2024-2029 term will continue to have 9 people including 8 old members and 1 elected replacement member. Among them, Ms. Chu Thi Binh is the Chairwoman of the Board of Directors, Mr. Le Van Quang is a member of the Board of Directors and General Director.
In terms of business activities, in the first quarter of 2024, Minh Phu Seafood recorded an increase in revenue of 29.6%, to VND2,750.57 billion, profit after tax changed from a loss of VND98.28 billion to a profit of VND7.28 billion, an increase of VND105.56 billion and completing 0.6% of the after-tax profit plan of VND1,265.7 billion. Of which, gross profit margin improved from 5.8% to 9%.
Source: VITIC/Tinnhanhchungkhoan


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