October 20, 2012

Vinamilk's 2012 revenues likely to reach US$1.27 billion

Vietnam Dairy Products Corporation (VNM) or Vinamilk, projects its 2012 revenues may reach VND26.5 trillion (US$$1.27 billion).

VNM did not give an estimate for its 2012 profit, the Viet Nam newspaper reported October 17.

In the first nine months of this year, the company made a pre-tax profit of VND5 trillion (US$240 million) on revenues of VND20.1 trillion (US$965 million), excluding those of its affiliates, rising 35% and 25% on-year, respectively.

VNM has set a target to become one of the world's 50 biggest dairy firms with revenues reaching US$3 billion by 2017. It now ranks 53rd among dairy products producers in the world, with one plant in New Zealand and 10 units nationwide.

To achieve the goal, Vinamilk plans to put into operation two modern dairy processing plants with a total investment of VND4 trillion (US$192 million) in the southern province of Binh Duong in the second quarter of 2013.

VNM currently holds the biggest share of Vietnam's dairy products market, with its condensed milk, yogurt and fresh milk products accounting for 80%, 90% and 50% of the local market share, respectively.