Hanoimilk, the Vietnamese dairy group, continued to witness declining revenues in the third quarter of the year but lower costs saw profits strengthen.

During the three-month period, sales were down 24% year-on-year, dropping to VND49.8bn (US$2.3m). In the year-to-date, Hanoimilk reported a 20% drop in revenue, which fell to VND155.8bn.

Depsite deteriorating sales, the company has seen profits improve thanks to lower costs. Third-quarter net profit was up 136% due to a reduction in cost of goods sold, reaching VND1.3bn. For the nine months, profit rose to VDN1.8bn compared to a loss last year of VND200m.

Click here to view the Vietnamese release from the company. 

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now