Rising costs have forced Vietnamese dairy Vinamilk to reduced its 2009 profit target, the company revealed.
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Vinamilk said it now expects a net profit of VND1.44trn ($84m), a 3.5% drop from its previous forecast.
Profits are expected to be dented by higher energy costs. Specifically, Vinamilk said electricity costs are expected to jump 9%, after the Vietnamese government hiked power prices.
Vinamilk said it now expected to give out a cash dividend of VND3,000 per share in fiscal 2009.
Nevertheless, the group said it expected revenues to rise by 10% year-on-year, increasing to VND9.22trn.
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By GlobalData
