Vinh Hoan (VHC) achieved 5,000 billion VND in revenue after 5 months, export market recovered

Vinh Hoan Corporation (VHC) has just announced its preliminary business results report for the first 5 months of 2024. Of which, revenue in May reached 1,131 billion VND, up 19% over the same period last year.

Notably, most export markets showed signs of recovery with positive growth. Only the US market saw a 0.3% decrease in revenue to VND372 billion.

Vinh Hoan (VHC) achieved revenue of 5,000 billion after the first 5 months of the year (Photo TL)

In contrast to exports, the domestic seafood market showed signs of good growth, with a growth rate of 47%, reaching 329 billion VND. The European market increased by 26%, reaching 154 billion VND. The Chinese market increased by 12%, reaching 104 billion VND. Other markets increased by 22%, reaching 154 billion VND.

It is easy to see that the domestic market is showing an increasing demand for pangasius products. Meanwhile, markets such as the US and China are still having difficulty recovering due to competitive pressure on selling prices.

Accumulated revenue in the first 5 months of the year, Vinh Hoan reached 5,080 billion VND, equivalent to 47.5% of the plan set at the beginning of the year. Compared to the whole year plan under the most favorable scenario, Vinh Hoan is currently completing 44.2% of the target.

At the recent annual general meeting of shareholders, Vinh Hoan plans to spend 930 billion VND to invest in upgrading and increasing Collagen production capacity and renovating the Vinh Hoan Collagen factory.

In addition, Vinh Hoan plans to invest in additional machinery and equipment for phase 1 of Thanh Ngoc fruit processing factory and Feedone aquatic feed factory.

Source: https://www.congluan.vn/vinh-hoan-vhc-dat-5000-ty-dong-doanh-thu-sau-5-thang-thi-truong-xuat-khau-hoi-phuc-post299287.html