Vinamilk rises to one-month high

Vietnam Dairy Products Joint-Stock Company (VNM) the country’s fifth-biggest listed company, rose to its highest value in almost a month after posting pretax profits of VND1.15 trillion (US$64.6 million) in the first half.

Its shares rose 4.1 percent to VND102,000, the highest since June 12 on the Ho Chi Minh Stock Exchange as the benchmark VNIndex fell for the third straight day, dropping 0.39 percent.

The producer of milk, yoghurt, ice cream and cheese reached about two-thirds of its full-year target, Vinamilk, as the company is known, said in a statement on its website.

The Hanoi-based company reported revenues of VND4.87 trillion compared with its full-year forecast of VND9.2 trillion, the statement said. The company didn’t provide any comparable figures for the same period last year.

thanhnien, bloomberg

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