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Shrimp processing giant posts 9 pct revenue increase

By Phuong Dong   September 2, 2021 | 09:00 pm PT
Shrimp processing giant posts 9 pct revenue increase
Inside a shrimp hatchery of Minh Phu in Ninh Thuan Province. Photo courtesy of Minh Phu
Minh Phu Seafood, one of the country's biggest shrimp processors, reported a 9 percent rise in revenues to over VND6.1 trillion ($269 million) in the first half of the year.

The HCMC company said however the pandemic is causing disruption in sales, especially in North America, its biggest market.

Its net profit rose nearly 20 percent to VND276 billion.

It received a VND336-billion import tariff refund after the U.S. in February withdrew an accusation that one of its subsidiaries, Mseafood, had violated anti-dumping regulations.

The company had to deposit the sum while it disputed the case.

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