Leading prawn cracker makers see profits jump 50 percent

By Minh Son October 29, 2019 | 06:51 pm PT

Prawn crackers are main product of both Sa Giang and Bich Chi. Photo acquired by VnExpress.

Prawn cracker markers Sa Giang and Bich Chi saw their January-September pre-tax profits increase year-on-year by 47 and 45 percent, respectively.

According to financial statements released for the third quarter of 2019, the Sa Giang Import Export JSC and Bich Chi Food Company earned profits before tax of VND27 billion ($1.17 million) and VND55 billion ($2.38 million) respectively.

Sa Giang recorded net revenues of nearly VND228 billion ($9.86 million) in the first nine months, a year-on-year increase of 11 percent, of which 80 percent came from prawn crackers; while Bich Chi posted net revenues of VND384 billion ($16.59 million).

At their annual meeting held early this year, the executive board of Sa Giang had set a target for prawn cracker sales of 7,300 tons and for rice product sales of 1,200 tons. In 2018, the company had set corresponding targets of 7,900 and 1,000 tons, respectively. At the end of 2018, only 90 percent of the target was achieved.

For 2019, Bich Chi had set its revenue target at VND480-540 billion ($20.7-23.3 million) and a profit of VND42-50 billion ($1.8-2. million), approximately the same as the previous year.