Vinamilk sets new record revenue this year

Monday, Apr 08, 2024 10:49

Customers purchase Vinamilk products at a supermarket in Hà Đông District, Hà Nội. — VNS Photo Ly Ly Cao

Vinamilk said it will seek shareholder approval for its ambitious business plan for 2024 at the Annual General Shareholders' Meeting, scheduled to take place on April 25.

The largest dairy company in Việt Nam targets a revenue of more than VNĐ63.16 trillion (US$2.5 billion) this year and a after-tax profit of nearly VNĐ9.4 trillion, up 4.4 per cent and 4 per cent year-on-year, respectively.

If successful, Vinamilk will surpass its previous record revenue achieved in 2021 and positive profit growth for the second year in a row.

Last year, Vinamilk exceeded over 95 per cent of its annual revenue target, reaching nearly VNĐ60.5 trillion. The after-tax profit also saw a 5 per cent year-on-year rise, surpassing the set goal by 5 per cent to reach over VNĐ9 trillion.

The company plans to propose a cash dividend plan of 38.5 per cent for 2023. They have already disbursed interim dividends totalling more than VNĐ6.06 trillion, equivalent to 29 per cent of the total dividends.

The final dividend instalment will be 9.5 per cent per share, requiring an additional allocation of nearly VNĐ2 trillion.

The specific dates for registration and payment will be determined by the Board of Directors, within a timeframe of six months from April 25.

It also plans to maintain a dividend rate of 38.5 per cent for 2024. Over VNĐ8 trillion will be allocated for dividend payments, representing about 95 per cent of the projected 2024 profit.

The State Capital Investment Corporation (SCIC), holding a 36 per cent stake, is expected to receive nearly VNĐ2.9 trillion. The F&N Group, with a 20.4 per cent stake, is expected to receive more than VNĐ1.6 trillion, while Platinum Victory Pte. Ltd, a major foreign shareholder with a 10.62 per cent stake, will receive around VNĐ855 billion.

On the stock market, shares of Vinamilk are traded at VNĐ67,500 per share at 9:50 (local time) on Monday morning. — VNS

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