February 6, 2007

Vinamilk's net profit up 21 percent in 2006

Vietnam's top dairy producer, Vinamilk, said its 2006 net profit jumped 21 percent to VND733.23 billion (US$45.6 million).

According to Thanh Nien News daily, revenues of Vinamilk, Vietnam's second-largest listed company, increased 17.7 percent to VND6.66 trillion (US$414 million).

Vinamilk shares rose VND1,000 (US$0.06) to VND193,000 (US$12) after the first order matching on Monday at the Ho Chi Minh City Securities Trading Center, which has three matching times daily.

Vinamilk, whose full name is Vietnam Dairy Products Company, may list shares on Singapore's stock market this year.

The firm runs a nationwide distribution network, producing a wide range of dairy products and beverages which it said accounted for two thirds of the domestic market.

China buys most of Vinamilk's export products, followed by the Middle East, the United States, Australia and Canada.

Vinamilk also deals in real estate, provides warehousing and transport services.