Vinamilk revises Q1 net - rises 68 percent, not 57 percent

Vietnam Dairy Products Joint Stock Co.(VNM), Vietnam’s second-biggest listed company by market value, said net income rose 68 percent year on year in the first quarter, instead of the earlier reported figure of 57 percent.

Profit at the company, known as Vinamilk, reached VND496 billion (US$28 million) in the January to end-March period, Le Quang Thanh Truc, Head of its financial investment department, said by phone Monday. Profit in the first quarter of 2008 was VND295 billion.

Mai Kieu Lien, Vinamilk’s Chairwoman and General director, said at the company’s annual meeting on March 31 that first quarter net income rose 57 percent to VND462 billion.

“The figure we released at the end of March for the first quarter was just an estimate,” Truc said. “The figure now is more precise when we were able to take into account all sales that occurred in the first three months.”

Vinamilk is partly owned by Deutsche Bank AG.

thanhnien,Bloomberg

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