Vinamilk’s profit rises 9 per cent

Update: February, 01/2018 - 17:00
A milk production line of Vinamilk. — VNA/VNS Photo
Viet Nam News

HÀ NỘI — The Việt Nam Dairy Products Joint Stock Company (Vinamilk) posted an after-tax profit of nearly VNĐ10.3 trillion (US$452.5 million) last year, an increase of 9 per cent year-on-year.

The company’s total revenue in 2017 reached over VNĐ51 trillion, also up 9 per cent against 2016.

Vinamilk reported a revenue of VNĐ12.35 trillion in the fourth quarter of 2017, an increase of 4.6 per cent year-on-year. The company earned VNĐ1.73 trillion in after-tax profit, down 5.4 per cent compared with the same period last year.

Also compared with the same period last year, the company’s interest expense in the last quarter of 2017 fell sharply from VNĐ19.5 billion to just over VNĐ5 billion.

However, the cost of sales during this period increased slightly to VNĐ3.2 trillion, bringing the total selling expense of the whole year to VNĐ11.5 trillion. Thus, it is estimated that in 2017, Vinamilk had to spend some VNĐ31 billion per day on selling expenses.

Vinamilk’s corporate management expense in the fourth quarter jumped to VNĐ528 billion, while the figure for the same period last year was VNĐ296 billion. — VNS