Sao Ta Foods has reported robust growth in its shrimp exports, despite facing challenges in global markets.

April Performance Highlights

In April 2024, Sao Ta Foods recorded a substantial increase in finished shrimp consumption, signaling a promising trajectory for the company. Finished shrimp consumption surged by 22% compared to the same period last year, reaching 1,435 tons. This growth is particularly impressive, given the global supply chain disruptions affecting the industry.

The company’s finished shrimp production in April soared by 50% year-on-year, totaling 2,130 tons. Conversely, the output of finished agricultural products remained steady at 216 tons, with a decline in consumption by 55% to 42 tons.

Financial Results

Sao Ta Foods reported a commendable financial performance for April 2024, with total sales reaching VND 415 billion (USD 16.33 million), marking a substantial 17% increase compared to the same period last year.

In its consolidated financial statement for the first quarter of 2024, Sao Ta Foods achieved a net revenue of VND 1.461 trillion (USD 57.61 million) and a pre-tax profit of VND 57 billion (USD 2.24 million), representing a growth of 45% and 12%, respectively, compared to the first quarter of the previous year.

Future Outlook and Challenges

Despite these positive outcomes, Sao Ta Foods anticipates challenges ahead. Dr. Ho Quoc Luc, Chairman of the Board of Directors, has shared insights regarding potential difficulties in the shrimp industry during the first half of 2024. Global supply chain disruptions, particularly in the Red Sea region, are impacting Vietnamese shrimp exports to key markets like the US and Europe.