Vinamilk’s profit rises 9 per cent

The Viet Nam Dairy Products Joint Stock Company (Vinamilk) posted an after-tax profit of nearly VND10.3 trillion (US$452.5 million) last year, an increase of 9 per cent year-on-year. The company’s total revenue in 2017 reached over VND51 trillion, also up 9 per cent against 2016. Vinamilk reported a revenue of VND12.35 trillion in the fourth quarter of 2017, an increase of 4.6 per cent year-on-year. The company earned VND1.73 trillion in after-tax profit, down 5.4 per cent compared with the same period last year. Also compared with the same period last year, the company’s interest expense in the last quarter of 2017 fell sharply from VND19.5 billion to just over VND5 billion. However, the cost of sales during this period increased slightly to VND3.2 trillion, bringing the total selling expense of the whole year to VND11.5 trillion. Thus, it is estimated that in 2017, Vinamilk had to spend some VND31 billion per day on selling expenses. Vinamilk’s corporate management expense in the fourth quarter jumped to VND528 billion, while the figure for the same period last year was VND296 billion. — VNS

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