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Dairy giant strives to milk profits from factory and farm investments

Update: April, 27/2013 - 10:22

HCM CITY (VNS)— Vinamilk has decided to issue dividend cash payments of 34 per cent to its shareholders this year, up from the 30 per cent rate given last year.

The company made the announcement yesterday at its annual shareholders' meeting, where it released its business and operation plans for 2013.

Vinamilk expects total revenue for this year to be VND32.5 trillion (US$1.56 billion) and after-tax profit of VND6.23 trillion ($299.5 million), an increase of 21.5 per cent compared with last year.

Mai Kieu Lien, the company's chairman and CEO, said business targets had been adjusted from the original figures that had been part of the 2012-16 strategic plan approved by the shareholders last year.

The company plans to disburse VND2.599 trillion ($124.95 million) in investment projects, with VND1.824 trillion ($87.7 million) for milk-factory projects and VND775 billion ($37.2 million) for intensive projects and cattle farms.

For the 2014-16 period, the company intends to disburse VND2.335 trillion ($112.2 million), pushing total investment capital to VND10.539 trillion ($506.6 million) by 2016.

Vinamilk plans to increase the number of cow herds to 25,500 cows by 2015 and 28,000 cows by 2016.

Currently, only 27-28 per cent of the company's raw materials are sourced domestically. The company aims to increase this by 35-40 per cent within the next few years. —VNS


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