GODACO: VND 20.26 Bln in profit, up VND 12.7Bln year-on-year

Godaco reported its after-tax profit increased by 12.7 billion against the same period last year (VND 7.56 billion)

Three factors leading to the increase of after-tax profit in Q1/2011 are: First, net revenue rose 71.6 billion, equivalent to 69 percent, thanks to demand raising from foreign customers. The production and export price both increased, average export price was up from US$2.6/kilo to US$3/kilo, more than 20 percent. Foreign exchange rate is also raising. Second, accumulated profit increased VND23.7 billion, up 95 percent against the same period of the last year.

In addition, Pangasius has been farmed effectively in the company’s own farming areas. Third, Godaco has invested in a feed plant to supply feed for its 100ha farming area, thus brought high profit to the company because it can save more than 1,000VND per kilo with its own produced feeds.

In 2011, Godaco aimed to earn VND660 billion in revenue, VND45 billion in after-tax profit, dividend paid at 20 percent.

Source: Vietfish International

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