Vĩnh Hoàn Corporation (VHC) has just announced their business results in March 2022, with the revenue reaching VND 1.373 billion in March, up 96% from the same period last year. The accumulated value of the first three months reached VND 3,225 billion, up 80%. 

Pangasius accounted for the biggest density of the total revenue with VND 871 billion worth, up 93% from the same period last year, sidestream products increased by 46%, health care products increased by 87%, prawn crackers increased by 46% and value-added products increased by 19%. Remarkably, other products skyrocketed by 685% to VND 136 billion worth.

The Corporation’s revenue in March increased by 28% as compared to February with health care products rising by 126%, sidestream products rising by 114% and rice-based products jumping by 269%.

As for importing markets in March, sales in the US increased by 161% from the same period last year, sales in the EU increased by 17% and sales in China increased by 71%. The domestic market saw a twofold increase in consumption with VND 274 billion worth.

In 2022, Vĩnh Hoàn Corporation sets a target of gaining VND 13,000 billion of net revenue, up 44% from last year, and VND 1,500 billion of profit after tax, up 36%. This is the first time Vĩnh Hoàn has had such an ambitious plan since the listing of securities.

The revenue in quarter 1 has helped Vĩnh Hoàn reach 25% of the plan of the year.

VHC shares climbed to a new ceiling price on April 13 with 101,000 vnd/stock. However, the price at the closing session stayed at 97,900 vnd/stock. As many as 1.25 million stocks were sold and more than 440,000 foreign stocks were sold at the net short position at the ceiling price.

A sharp increase in VHC shares pushed the charter capital up to VND 17,800 billion, bringing Vĩnh Hoàn to become the largest-scale corporation related to seafood and pangasius in the country.

VHC shares have increased by 58% since earlier this year.