Vinamilk eyes US$2.26 billion revenues in 2017

Monday, 2017-04-17 11:47:40
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NDO/VNA – The Vietnam Dairy Products Joint-Stock Company (Vinamilk) has projected a total revenue of VND51 trillion (US$2.26 billion) in 2017, an increase of 8% from the previous year.

It targets a post-tax profit of VND9.97 trillion (US$438.6 million), a year-on-year increase of 4% and a post-tax dividend for 2017’s business performance at the lowest rate of 50% (or VND5,000 per share), General Director Mai Kieu Lien said at the company’s annual share holders’ meeting on April 15.

At the meeting, Lien revealed that her company set a goal of VND80 trillion (US$3.52 billion) in total revenue in 2021, including VND19 trillion (US$866 million) from overseas markets.

Its average yearly growth rate in the domestic market is projected at 10%, and the revenue from the domestic market is predicted at VND61 trillion (US$2.68 billion).

According to her, Vinamilk is ready for its strategic development by 2021. The company will continue conducting researching and developing their products to maintain similar growth, while cooperating with overseas partners and expanding operation in other markets, such as the US and New Zealand, to ensure a sufficient source of input materials.

In the first quarter of 2017, Vinamilk recorded a yearly rise of 16.1% in revenue and 34% in post-tax profit compared to the same period last year.