Nam Viet Joint Stock Company (ANV) recently announced its consolidated financial report for the second quarter, revealing net revenue of 1,726 billion VND, a 45% increase compared to the same period last year. Profit after tax reached 333 billion VND, compared to a loss of 2.3 billion VND in the same period last year – a nearly 145-fold improvement in just one year. This also marks ANV's highest ever quarterly profit after tax, surpassing the peak levels of 2018-2019, when the pangasius market boomed.
According to ANV, this remarkable result stems from the recovery of the export market. Financial revenue also increased by 3.6 billion VND, while interest expenses decreased by 7.9 billion VND, significantly improving profit margins.
For the first 6 months of the year, the company recorded net revenue of 2,832 billion VND, a 28% increase, and profit after tax of 465 billion VND, almost 32 times higher than the same period last year (14.6 billion VND).
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Workers sorting fish at Navico's processing plant. Photo: Thi Ha |
Workers sorting fish at Navico's processing plant. Photo: Thi Ha
The company announced it has already exceeded its annual profit target of 500 billion VND before tax, just halfway through the year. This serves as a strong foundation for the company to pursue its pre-tax profit goal of 1,000 billion VND in 2025, further increasing to 1,200 billion VND in 2026 and 1,400 billion VND in 2027.
In early July, Nam Viet signed a strategic cooperation agreement with AV09 Comercio Exporter Ltda, one of the largest food importers in Brazil, during the Vietnam-Brazil Business Forum. This partnership is expected to expand distribution channels in the South American market.
Speaking with VnExpress, a representative from Nam Viet stated that both the Asian and American markets have experienced strong growth, especially China. Despite numerous tariff challenges facing seafood exports this year, Vietnamese products maintain a competitive edge due to consistent quality and reasonable prices. Certain products are particularly favored in the US and Chinese markets, creating new growth opportunities for the company.
Thi Ha
