Vinamilk (VNM) records $670 million in April-June revenue

The Vietnam Dairy Products JSC (Vinamilk) recorded over VND15.49 trillion (US$670.16 million) in consolidated net revenue between April and June, up 9.5 per cent from the first quarter and 6.1 per cent from a year earlier.

 

In its financial report for Q2, Vinamilk, one of the largest dairy product manufacturers in Viet Nam, said the revenue included more than VND13.36 trillion generated by domestic business activities, up 10.5 per cent quarter on quarter and 7.6 per cent year on year.

It attributed the growth to the inclusion of business outcomes of the GTNFoods JSC and the Moc Chau Dairy Cattle Breeding JSC, where it is the largest shareholder, since Q1.

Meanwhile, the parent company’s net revenue was over VND13.62 trillion, rising 13.6 per cent from Q1 and 4 per cent from the same period last year.

The lifting of social distancing on April 22 has also supported the firm’s performance in Q2, it said.

Despite the impact of the COVID-19 pandemic on domestic and global economies, Vinamilk has still taken actions to seek opportunities in potential markets, it noted, adding that the export of dairy products to China, the Republic of Korea and some other markets contributed VND1.37 trillion to net revenue in Q2, up 26.8 per cent quarter on quarter and 7.1 per cent year on year.

Its overseas branches post VND761 billion in net revenue, accounting for 5 per cent of the consolidated net revenue in Q2.

The post-tax consolidated profit in the April-June period reached VND3.08 trillion, increasing 6.2 per cent from a year earlier, the company noted.

In June, Vinamilk became the first milk company of Viet Nam to be licensed to ship dairy products to member countries of the Eurasian Economic Union (EAEU). 

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