The Vietnam Dairy Products Joint Stock Company (Vinamilk) posted an after-tax profit of nearly 7.8 trillion VND (350 million USD) last year, an increase of 28 percent year-on-year.
Production line at a Vinamilk factory. (Photo: VNS)
Hanoi (VNA) - The Vietnam Dairy Products𒉰 Joint Stock Company (Vinamilk) posted an after-tax profit of nearly 7.8 trillion VND (350 million USD) last year, an increase of 28 percent year-on-year.
The company's total revenue in 2015 reached 40.2 trillion VND (1.8 billion USD), up 14 percent against 2014.
Vinamilk reported revenue of 11.1 trillion VND (500 million USD) in the fourth quarter of 2015, an increase of 19 percent year-on-year. The company earned 1.9 trillion VND (85 million USD) in after-tax profit, up 10 percent compared with the same period last year.
Although a majority portion of Vinamilk's revenue comes from the domestic market (more than 80 percent), the revenue earned from overseas markets has witnessed strong growth, increasing 39 percent compared with 2014.
The company's expenditure in 2015 rose by 70 percent to touch 6.2 trillion VND (280 million USD), of which advertising expenditures comprised 1.8 trillion VND (80 million USD), up 82 percent.-VNA
Vietnam Dairy Joint Stock Company (Vinamilk) wants to reduce State owner-ship in enterprises after equitisation to create conditions to increase their self-management and competitiveness for further development.
Shares rose for a third day on October 19 after dairy producer Vinamilk said it will seek to sell its controlling government stake to foreign investors.
Shares rebounded on November 3 after dairy producer Vinamilk jumped amid reports that a Singapore food and drinks firm offered to buy a 45 percent stake in it.
Shares rebounded on November 5 after Vinamilk surged amid investor expectation that the Government will soon issue details about its divestment of State capital from this company.
Vietnamese Ambassador to the US Nguyen Quoc Dung reviewed key milestones in the bilateral relationship, underscoring the essential and sustained contribution by businesses from both countries, from the time before the normalisation of bilateral ties in 1995 until today, when the two sides are comprehensive stategic partners of each other.
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Production line at a Vinamilk factory. (Photo: VNS)
