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Vinamilk among best under-a-billion firms, Forbes Asia says
Vietnam’s biggest dairy maker Vinamilk (HNX: VNM) was named for the first time ever as one of the best small-to-midsize performers in the Asia-Pacific region in the Forbes Asia’s “Best Under A Billion” list this year.
Vietnam Dairy Products, known as Vinamilk, which holds a one-third share of Vietnam’s US$1.5-billion dairy market, enjoyed a net profit jump of 67 percent to $90 million. Its revenues climbed by half to $389 million through the first half of 2010, Forbes reported.
The company listed on the Ho Chi Minh Stock Exchange with the coded name of VNM is expected to grow 25 percent this year.
“With revenues doubled and net profit up fourfold in the last four years, it is the most successful of the country’s privatized state-owned enterprises,” according to the September issue of Forbes Asia. In August, Vinamilk began construction on a $120 million dairy plant near Ho Chi Minh City that is expected to be the biggest in Southeast Asia.
"Vinamilk has been successful in the competition with foreign brands. It has created a very strong Vietnamese brand, a solid footing in the local market, and it has been able to tap into the rising demand for nutrition products," Trinh Hoai Giang, Chief operating official of HSC Securities, one of Vietnam's three biggest brokerage houses, said in a report on Forbes’ website.
The annual “Best Under A Billion” list highlights 200 top-performing firms with revenues under $1 billion from nearly 13,000 publicly listed Asia-Pacific companies, based on earnings growth, sales growth, and shareholders’ return on equity.
Among 200 top-performing small-to-midsize enterprises in Asia this year are 71 Chinese, 39 Indian, 20 Korean and nine Thailand’s. “Technology firms, both hardware and software, keep making inroads into the 200, along with health-care-related entities,” Forbes said in a report on its website, adding 151 new firms appeared on this year’s list.
Hoang Uy
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