Vinamilk Q1 net profit falls 3 pct

Tuesday, May 6, 2008
Vinamilk, Viet Nam's top dairy firm, said net profit in the first quarter fell 3% to 309 billion dong ($19.3 million) despite a 33% rise in revenues.
The company did not provide reasons for the fall in earnings from a year earlier.
In the January-March period, revenues reached 1.84 trillion dong ($115 million), compared with 1.38 trillion in the same period last year, the company report seen on Tuesday said.
The Ho Chi Minh City-based firm had recently forecast that its net profit would rise more than 18% this year to 1.14 trillion dong.
It also said it expected revenues to jump 23% to 8.2 trillion dong.
Vinamilk, the largest company on the Ho Chi Minh City exchange with a capitalisation of $1.49 billion, plans to list nearly 8.8 million shares overseas this year, increasing its registered capital by 5% to 1.84 trillion dong.
The company has said it wants to list in Singapore.
Vinamilk shares closed up 1.47% at 138,000 dong on Tuesday. (Reuters)