Vinamilk Expects 20% Growth in Net Profit This Year

Vietnam’s largest dairy producer, Vinamilk, will likely earn a net profit of $410 million in 2016.


                       Vinamilk expect a net profit of $410 million this year. Photo: Internet

Vietnam Dairy Products JSC or Vinamilk expects its consolidated net profit to reach 9.31 trillion dong this year, 12.63% above its yearly target and 19.77% higher than its performance last year.

The company’s revenue is likely to top 46.2 trillion dong ($2.04 billion) in 2016, rising 14.86% from a year earlier, the largest dairy firm said in a filing to the Ho Chi Minh Stock Exchange late on December 21.

The firm has actively conducted mergers and acquisitions (M&As) overseas, aiming to raise its sales to $3 billion in 2017.

F&N Dairy Investment and F&N Bev Manufacturing, two subsidiaries of Singapore-based beverage giant Fraser & Neave Limited (F&N) spent nearly $500 million to acquire a combined 5.4% stake in Vinamilk at an auction launched by State Capital Investment Corporation (SCIC) on December 12.

After the transactions, F&N lifted its holding in Vinamilk to 16.35% while SCIC cut its ownership to 39.33%.

Tuan Minh / BizLIVE