Vinh Hoan Corp: Revenue in the third quarter of 2021 increased by 17% thanks to the US market

(seafood.vasep.com.vn) Vinh Hoan Corp has just published a report for September 2021 with a revenue of VND 658 billion, bringing the total export revenue of the third quarter of 2021 to VND 2,128 billion, up 17% over the same period in 2020.

Vinh Hoan Corp Revenue in the third quarter of 2021 increased by 17 thanks to the US market

Vinh Hoan's September export revenue reached VND 658 billion, up 18% over the same period last year. Revenue in August 2021 is VND 705 billion, up 41% over the same period.

In the third quarter of 2021, the US is still Vinh Hoan's fastest growing export market. Particularly in September 2021, revenue to the US market reached VND 344 billion, up 79% over the same period last year and 17% over the previous month. Exports to the European market also increased by 11%. Two large markets with good growth have partly offset the decline of the Chinese market.

In September 2021, Vinh Hoan's exports to China decreased by 38% over the same period and 40% compared to August to VND 84 billion because the company had to reduce processing capacity to comply with policy requirements. Social distancing to fight Covid-19.

In terms of export structure, pangasius is still the company's main export product with a growth of 36%, health care products also increased by 36%, offsetting the decline of some other products.

Thus, in 9 months, Vinh Hoan's export revenue still increased by more than 15% over the same period in 2020 with the main growth driver being the US market.

Vinh Hoan expects the profit in the fourth quarter of 2021 to increase strongly again when capacity is strongly improved and the consumption market is favorable.


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