Vinamilk records ever highest net revenue of $629mn in Q2

Thursday, Aug 01, 2019 16:28

A corner of the first organic dairy farm of Vinamilk in Da Lat City in the southern province of Lam Dong. – Photo Vinamilk

Vietnam Dairy Products Joint Stock Company (Vinamilk) reported a year-on-year net revenue jump of 6.55 per cent to VND14.6 trillion (US$629 million) for the second quarter of this year, recording the highest level in history since its establishment in 1976.

Along with the high growth rate of revenue, the after-tax profit of Q2 alone reached more than VND2.9 trillion, up 8.4 per cent year-on-year.

In the first half of the year, Vinamilk, listed as VNM, achieved VND27.8 trillion in revenue, an increase of nearly VND2 trillion, or 7.61 per cent, over the same period last year. The earning per share (EPS) reached VND2,953.

Vinamilk is one of the Top 10 on Return on Equity (ROE) according to the Nikkei ranking. This financial indicator represents the business efficiency of a business. In 2018, Vinamilk's ROE reached 40.7 per cent, which has stabilised over many consecutive years.

In June this year, Vinamilk was the only representative of Asia invited to share the success in developing organic trends at the Global Milk Conference 2019 in Lisbon, Portugal.

Vinamilk said that the investment in international standard dairy farms had put Vinamilk on the world milk map with the highest number of Global G.A.P. certified dairy farms in Asia.

The company Vinamilk is building a complex of organic dairy farms in Laos, with a super-large scale of up to 24,000 cows in phase 1, on a farming area of 5,000ha. It is expected to be 100,000 cows in phase 2, on an area of ​​20,000ha, with total investment of up to US$500 million.

The investment strategy for domestic and foreign dairy farms is expected to help Vinamilk reach the target of top 30 largest dairy companies in the world as well as leading the region in nutrition trends, especially organic products. – VNS

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