Moc Chau Dairy Cattle Breeding Joint Stock Company (Moc Chau Milk) plans to achieve revenue of VND3 trillion this year, an increase of 8.6 per cent year-on-year, the company announced.

After-tax profit is set at VND318.5 billion, up 13.5 per cent compared to 2020. With this goal, Moc Chau Milk is expected to bring 2021 business results towards a new record.

With the profit plan, the company is expected to pay dividend of 20 per cent, 5 per cent lower than 2020.

As for the results of 2020, the company earned revenue of VND2.8 trillion and after-tax profit of VND280.7 billion, up by 10.3 per cent and 68.2 per cent respectively compared to 2019.

It had submitted to shareholders a plan to adjust business lines to meet the conditions allowing foreign investors to own up to 100 per cent of the charter capital, at the same time, abolishing the business lines that the company is not currently involved in.

The enterprise will submit to shareholders the plan to cut the business lines in the import and export of raw materials, animal feed, equipment and machinery, spare parts, flavourings and dairy products, and packaging of animal husbandry and processing, trading electronic scales, tea growing activity and short-stay services.

The company's 2021 General Meeting of Shareholders is scheduled to be held on March 20, 2021.

As of the end of last year, Moc Chau Milk's total assets increased by 14 per cent to VND1.2 trillion, in which assets, mainly money and short-term financial investments, reached VND632.6 billion, accounting for 51.7 per cent of total assets.

Inventories reached VND204.5 billion, accounting for 16.7 per cent of total assets. Short-term receivables reached VND145.4 billion, accounting for 11.9 per cent of total assets. — VNS