Vinamilk Sees Jan-Sep Profit up 27.6% to $404 Million

Vietnam’s top dairy producer Vinamilk has witnessed its pre-tax profit up 27.57% year-on-year to $404.5 million in the first three quarters of this year.


Vinamilk reported a pre-tax profit of $404.5 million in the first three quarters of this year. Photo: Internet

Vinamilk, Vietnam’s largest dairy producer, has said its pre-tax profit in the first nine months of this year soared 27.57% year-on-year to 9.03 trillion dong ($404.5 million), according to a filing sent to the Ho Chi Minh Stock Exchange.

The company, formally known as Vietnam Dairy Products JSC, reported total revenue of 35.13 trillion dong ($1.57 billion) in the three-quarter period, representing a 17.6% increase from a year earlier.

In the three months ending September, the dairy producer earned a pre-tax profit of $136.3 million on revenue of $549.3 million, up 19.23% and 15.96% year-on-year, respectively.

The firm is striving to gain larger market shares to attain a revenue target of $3 billion set for 2017.

A consortium led by Morgan Stanley will counsel State Capital Investment Corporation (SCIC), the Vietnamese government-run sovereign wealth fund, on the sale of a 9% stake in Vinamilk within this year.

Tuan Minh / BizLIVE