The aquatic processing industry faced a lot of difficulties in 2015, but I.D.I International Development and Investment Corporation (IDI) still made impressive business results, featured by its revenue growth of 23.25 per cent and profit growth of 15.17 per cent over 2014, thanks to its flexible administration and market diversification.
On June 11, 2016 in Dong Thap province, I.D.I International Development and Investment Corporation (securities code: IDI), a member of Sao Mai Group, hosted the 2016 Annual General Meeting of Shareholders where it reported on business operation results in 2015 and adopted business development plans in 2016 and other important issues. In addition to the presence of 250 shareholders representing more than 82 per cent of the shares with voting rights out of more than 2,500 shareholders of the company, the meeting also welcomed representatives of local governments, partners, credit sponsors, customers and some press agencies.
The company fetched revenues of more than VND2,621 billion in 2015, up 23.25 per cent over the value in 2014 (VND2,126 billion), and earned a net profit of over VND104 billion, an increase of 15.17 per cent over 2014 (VND90.5 billion). It significantly contributed to the total profit of VND231.7 billion earned by Sao Mai Group.
The company’s revenue still jumped high in the context of Vietnam’s declining catfish export because it diversified export markets and sought new markets. The good profit growth was resulted from the company’s self-control of inputs, which accounted for about 80 per cent of its total demand, and its effective management of material areas, which enabled the company to gain competitive edges in selling prices.
In 2015, IDI was praised for being among 50 fastest growing companies in Vietnam and 500 largest companies in Vietnam. This was considered an optimistic result as overall economic conditions were still in difficulty and a lot of companies in the sector had to cease operation and went bankrupt. Among 12 members of Sao Mai Group, two members appeared in the Top 500 largest enterprises in Vietnam by revenue, namely IDI and ASM.
The Annual General Meeting of Shareholders also passed operation plans set for 2016. The company targets at VND3,444 billion of revenue, up 31.4 per cent on year, and VND142 billion of profit, up 36.5 per cent.
IDI’s business operations are expected to be better because it can effectively control input materials for production. It put into operation the second aquatic processing factory in early 2016 and increased feed purchases for its farming areas. Even, the company can beat the target of VND3,444 billion of revenue in 2016.
With strict governance platform, high-quality personnel, right business strategy, good resilience to crisis and optimistic growth in recent years, 2016 is believed to be another year of success for IDI.
QH
Vietnamese
