Shrimp processing giant posts large revenue increase

Minh Phu Seafood, one of the country’s biggest shrimp processors, reported a 9 percent rise in revenues to over VND6.1 trillion ($269 million) in the first half of the year.

The HCMC company said however the pandemic is causing disruption in sales, especially in North America, its biggest market.

Its net profit rose nearly 20 percent to VND276 billion.

It received a VND336-billion import tariff refund after the U.S. in February withdrew an accusation that one of its subsidiaries, Mseafood, had violated anti-dumping regulations.

The company had to deposit the sum while it disputed the case.