Sao Ta Foods in Vietnam has recently announced good news for its shareholders. The company revealed positive business results alongside a promising shrimp harvest, showcasing a robust start to the year.

Impressive Revenue Growth

In March 2024, Sao Ta Foods reported a significant surge in revenue, with figures soaring to USD 19.17 million. This marks a substantial increase of 32% compared to the same period last year, reflecting the company’s strong financial performance. Within the shrimp sector, Sao Ta Foods demonstrated remarkable progress, with finished product production reaching 2,000 tons and consumption hitting 1,693 tons. These figures represent a notable uptick of 74% and 42%, respectively, over the corresponding period.

While the shrimp sector flourished, Sao Ta Foods witnessed a contraction in its agricultural production segment. Finished product production dipped by 53%, amounting to 112 tons, while consumption experienced a similar downturn of 57%, totaling 59 tons. Despite this decline, the company remains focused on optimizing its operations and enhancing productivity across all segments.

Encouraging Shrimp Farming Results

March also brought positive news on the shrimp farming front for Sao Ta Foods. The company successfully harvested shrimp from farms that had been stocked for the off-season since November 2023.

Looking ahead, Sao Ta Foods is poised for strategic growth and innovation. The company is committed to delve deeper into processed products, optimize costs, and boost productivity by tailoring products at each factory and enhancing the skills of its workforce. With an ASC farming area under its belt, Sao Ta Foods is well-equipped to cater to the demands of large-scale systems.

Mitigating Risks and Setting Goals

However, Sao Ta Foods remains cognizant of potential challenges on the horizon. Concerns loom over the lawsuit against shrimp industry subsidies in the US, as well as constraints in domestic shrimp material supply due to farming limitations.