Vinamilk, Vietnam’s largest dairy business, has reported a 28% rise in annual profits.
The company said net profit after tax reached VND7.77trn (US$348.7m) in 2015, an increase of 28.1% on the year.
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Net revenue rose 14.3% to VND40.08trn.
The faster growth in Vinamilk’s profitability can be in part explained by cost of sales that inched up 0.5% in 2015.
Vietnamese state investment vehicle SCIC holds 45% of Vinamilk. In October, the Vietnamese government announced plans to sell the stake. The largest single foreign shareholder of Vinamilk is the Singapore conglomerate Fraser and Neave, with a stake of around 10%.
According to estimated 2015 data from Euromonitor, Vinamilk accounts for 48% of drinking milk sales in Vietnam. It also holds a 68% share of combined yoghurt and sour milk sales in the country.
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