Vinamilk, Vietnam’s largest dairy producer, has reported a 37.9% rise in first-quarter pre-tax profits to VND2.63trn (US$118m).
Revenues for the first quarter rose by 18% to VND10.37trn.
Go deeper with GlobalData
Last month, Vinamilk said it was looking to increase sales of its infant formula products in the Middle East, as part of an export drive. The company derives around 20% of its revenues from exports.
In Vietnam, Vinamilk accounts for some 48% of drinking milk sales and 68% of the combined yoghurt and sour milk market. Pre-tax profits at the company rose by 28% in 2015 to VND7.77trn on sales 14% up at VND40.08trn. The company has forecast a 10% rise in revenues for 2016.
The Vietnamese state owns 45% of the company through the state investment vehicle, SCIC. However, last October the government announced its intention to sell that stake. Currently, the largest overseas shareholder in the group is Singapore-based Fraser & Neave which owns around 10% of the company
See Also:
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
