Vinamilk posts 29 pct increase in four-month revenue

Tuesday, May 13, 2008
Viet Nam Dairy Products Joint Stock Co., the country’s biggest maker of dairy products, posted a 29% increase in revenue in the first four months of the year, the Ho Chi Minh City-based company said on its website.

Revenue rose to VND2.44 trillion (US$151 million) in the four months ended April 30, the company commonly known as Vinamilk said.

Pretax profit rose to VND457 billion, a 17% increase from a year earlier, the company said.

The firm had recently forecast that its net profit would rise more than 18% this year to VND1.14 trillion ($70.7 million).

It also said it expected revenues to jump 23% to VND8.2 trillion ($508.4 million).

Vinamilk, the largest company on the Ho Chi Minh City exchange with a capitalization of $1.49 billion, plans to list nearly 8.8 million shares overseas this year, increasing its registered capital by 5% to VND1.84 trillion

The company has said it want to list in Singapore. (Bloomberg)