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HVG - "Inhouse" M&A boosting growth in revenue and profit but FTAs to also drive organic growth - AGM Note

Consolidation of VTF into financial results (stake increased from 38.8% to 80.7%) helped boost top line by 26% and NPAT by 17%. Finalization of FTA with Russia-Belarus-Kazakhstan and Korea to boost seafood export volumes from 2015 onwards. FY15 CAPEX of VND1400bn for expanding capacity in fish, shrimp processing & animal feed production. Further stake increased in associates and subsidiaries to boost earnings growth in FY15.