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Vinamilk H1 gross profit up 36 percent
Vietnam’s top dairy firm, Vinamilk, posted first-half gross profit of VND777 billion (US$47 million), up 35.8 percent from the corresponding period last year.
The Ho Chi Minh City-based company, the largest firm on the country’s main stock exchange, said it earned VND693 billion ($41 million) in net profit during the first six months, or 60.8 percent of its profit target for the full year.
Vinamilk gave no reason for the increase in first half gross profit, and provided no comparative figures for the year-ago net figure.
The company said its six-month revenues hit VND3.96 trillion ($235 million), or an increase of 27 percent over the first half of 2007.
The six-month results were unaudited.
Vinamilk shares advanced 2.61 percent to stand at VND118,000.
The dairy maker has projected net profit this year would rise more than 18 percent from 2007 to VND1.14 trillion ($67.7 million), while full-year revenues would rise 23 percent to VND8.2 trillion.
Vinamilk, with a capitalization of $1.2 billion, plans to list nearly 8.8 million shares overseas this year, increasing its registered capital by 5 percent to VND1.84 trillion ($109 million).
The company has said it wants to list in Singapore.
TN
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