Vinamilk earns 32% higher H1 profit
Vinamilk earns 32% higher H1 profit
Vietnam Dairy Products Joint Stock Company (VNM) announced that its parent company earned more than VND21 trillion (US$940 million ) in revenue and VND4.8 trillion in after–tax profit in the first half, an increase of 17 per cent and 32 per cent year-on-year, respectively
During the period, Vinamilk saw strong expansion of its foreign market. In the first half of 2016, the local dairy giant reported the revenue and gross profit's growth in its foreign market of 11 and 57 per cent, respectively.
The growth of revenue and gross profit earned by the firm in Viet Nam were 18 and 24 per cent, respectively
As per the Q2 financial statement, the parent company earned VND11.65 trillion in net sales, up 16 per cent year-on-year. It also reported after-tax profit of VND2.7 trillion in the quarter, an increase of 28 per cent year-on-year.
A Vinamilk representative said it achieved better results because it focused on product groups with greater efficiency. At the same time, it had to pay less income tax during the period, compared with the same period in the previous year.
Always figuring among the top three shares in the market in terms of value, VNM ended at VND156,000 each on HCM Stock Exchange on August 8.
