FIMEX VIETNAM’s sales increased 15%, reaching 140 million USD in the first 7 months of 2022

( FIMEX VIETNAM (HoSE: FMC) - a member unit of the PAN Group (HoSE: PAN) announced that sales of processed shrimp products in 7 months of 2022 reached 12,889 tons, an increase of 5.7%.

Consumption of finished shrimp products recorded 11,259 tons, up 4% over the same period in 2021. In the agricultural products segment, processed products reached 1,389 tons, more than double in comparison to the same period in 2021. Sales of  finished products reached 1,082 tons, up 14% over the same period last year.

Accordingly, the overall sales volume was nearly 140 million USD, up 15% compared to the same period in 2021. The company said that the whole year sales are likely to be higher than the 7-month sales thanks to a well-prepared supply.

In general, FIMEX VN's business performance remains at a good level, processing activities will not increase sharply due to the unsatisfactory source of raw materials. With this process, FIMEX VN confidently exceeded the plan in 2022 regarding sales and profits. 

Chú thích ảnh

Sales of FIMEX VN is forecasted to remain good growth till the end of the year. 

Regarding shrimp farming, the company is in the process of stocking the secondcrop. The old area has just finished, the new area is completed before August 15. 

In the first half of the year, the shrimp company announced revenue of 2,738 billion VND, an increase of 29%. The holding company's after-tax profit reached 114 billion VND, one-and-a-half times higher than the same period last year. Thanks to the favorable context of the seafood industry in general and the shrimp industry in particular, the main markets recovered strongly, especially the US. At the same time, completely harvesting the first self-cultivated shrimp of the year reduces the cost of capital. Thereby, gross profit margin of FIMEX VN improved from 8.3% to 10.3% and net profit increased stronger than revenue.

Compiled by Thuy Linh 

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