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August 23, 2013

Vietnam

Minh Phu Profit Drops 87 Percent

 

Minh Phu Seafood Corp, Vietnam’s largest shrimp exporter, reported an 87% drop in net profit for the first half of 2013.  Explaining the drop, the company mentioned problems with early mortality syndrome (EMS) and currency exchange rates.  In its annual report, chairman Le Van Quang wrote that the company was bracing for a tough year, due to problems with EMS.  He wrote that the “mass deaths” have “caused serious shortage of raw shrimp in the country, while processing factories are...producing...below 50% of capacity”.

 

Source: Undercurrent News [eight free news reads every month].  Editor, Tom Seaman (undercurrent@undercurrentnews.com).  Minh Phu Profit Dives 87%.  August 21, 2013.

 

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