Monday, July 23, 2007

Catfish exporter H1 net profit up 67%

Vietnam's catfish exporter Agifish (AGF) said on Monday its net profit in the first half jumped 67 percent from a year earlier to nearly 30 billion dong ($1.9 million) on robust export demand.

The company, based in the Mekong Delta province of An Giang, said in a statement that its first-half revenues rose 6 percent compared with the same period last year to 565.2 billion dong ($35 million).

The company said it planned to list 4.9 million additional shares on the Ho Chi Minh Stock Exchange on Thursday.

Agifish has projected its net profit for the whole of this year to rise 54 percent from 2006 to 70 billion dong. It expects annual export revenue of $67 million.

Shares in Agifish were traded unchanged at 102,000 dong ($6.3) each at 0245 GMT on Monday.

The company exports fish, shrimp and also supplies material for agricultural production.

Source: Reuters

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