Financial report for fourth quarter: Seafood enterprises gain good revenue

Announcing the financial report for fourth quarter of 2018, although only a few seafood enterprises have announced their results, generally the business results for this industry are quite stable and have gained good revenue.

Illustrated photo: source internet

ABT’s net profit is nearly 3 times higher than 2017

Bentre Aquaproduct Import And Export JSC has just announced its 2018 financial report with revenue of VND 398 billion, relatively increasing compared to the previous annual revenue of VND 386 billion. Cost of goods sold increased at a lower rate, making gross profit doubling to VND 90 billion.

The after-tax profit was nearly VND 67 billion, nearly 3 times higher than the result in 2017. In the fourth quarter only, the Company's revenue decreased from VND 99 billion to VND 88 billion, however, the decrease in the prime cost made gross profit rise 28%, equivalent to VND 23 billion.

The after-tax profit is equivalent to the same period last year, nearly VND 12 billion. It is known that in 2018, ABT targeted to achieve a revenue of VND 400 billion and pre-tax profit of VND 48 billion. Accordingly, after 9 months of 2018, the company completed 77% of the revenue target and exceeded 25% of profit target.

ANV’s net profit is 6.6 times higher than in the same period of 2017

According to the consolidated financial report for the fourth quarter of 2018 of Nam Viet Corporation (ANV), in the fourth quarter of 2018, thanks to increase in export and selling price, the net revenue gained VND 1,383.3 billion, up by 62.6% over the same period last year. After deducting prime costs, ANV collected a gross profit of VND 431.7 billion, nearly 3 times higher than the same period in 2017.

For the whole year of 2018, ANV reached VND 4,118 billion, up 40% over the same period last year, after-tax profit reached more than VND 600 billion, 4.2 times higher than 2017, equivalent to earnings per share (EPS) reaching VND 4,811. With the revenue target of VND 3,200 billion and the net profit target of VND 250 billion, by 2018, ANV has completed 28.7% of the revenue target and exceeded 140% of the profit target.

As of December 31, 2018, ANV’s VND 2,090 billion of short-term assets, were up nearly VND 700 billion compared to the beginning of the period, including VND 69 billion in cash equivalents, and VND 450 billion of short-term financial investment. Total assets reached VND 3,425 billion, up 26.8% compared to the beginning of the period.

KHS's net revenue in the period reached VND 332 billion.

Kien Hung Joint Stock Company (stock code: KHS) announced its financial report for the fourth quarter of 2018 and the whole year 2018. Accordingly, its net revenue in the period reached VND 332 billion, slightly increased by 3.4% compared to the same period last year, due to an insignificant increase in cost of goods sold, making gross profit of VND 32.6 billion, up 51.6% against the fourth quarter of 2017. In this period, KHS collected nearly VND 530 million from financial activities, but the expenses for these amounted to VND 4.55 billion.

While sale expenses decreased by 19%, administrative expenses increased by only 13.4%, this resulted in KHS’s net profit of VND 11.8 billion instead of a loss of more than VND 2 billion, in which after-tax profit of the holding company reached VND 11.4 billion.

Accumulated for the whole year 2018, KHS achieved VND 1,138.6 billion in net revenue, up 2.5% compared to the same period last year, after-tax profit reached more than VND 29 billion, up 70.6% compared to 2017, in which non-controlling shareholders suffered a loss of VND 3.4 billion, so the after-tax profit of the holding company was VND 32.6 billion equivalent to the EPS of VND 3,042.