Vinamilk enjoys revenue growth in Q2

 

The Vietnam Dairy Products JSC (Vinamilk) recorded over 15.49 trillion VND (670.16 million USD) in consolidated net revenue between April and June, up 9.5 percent from the first quarter and 6.1 percent from a year earlier.

 

In its financial report for Q2, Vinamilk, one of the largest dairy product manufacturers in Vietnam, said the revenue included more than 13.36 trillion VND generated by domestic business activities, up 10.5 percent quarter on quarter and 7.6 percent year on year.

 

It attributed the growth to the inclusion of business outcomes of the GTNFoods JSC and the Moc Chau Dairy Cattle Breeding JSC, where it is the largest shareholder, since Q1.

 

Meanwhile, the parent company’s net revenue was over 13.62 trillion VND, rising 13.6 percent from Q1 and 4 percent from the same period last year.

 

The lifting of social distancing on April 22 has also support the firm’s performance in Q2, it said.

 

Despite heavy impact of the COVID-19 pandemic on the domestic and global economies, Vinamilk has still taken proactive actions to seek opportunities in potential markets, it noted, adding that the export of dairy products to China, the Republic of Korea and some other markets contributed 1.37 trillion VND to the net revenue in Q2, up 26.8 percent quarter on quarter and 7.1 percent year on year.

 

Its overseas branches post 761 billion VND in net revenue, accounting for 5 percent of the consolidated net revenue in Q2.

 

The post-tax consolidated profit in the April-June period reached 3.08 trillion VND, increasing 6.2 percent from a year earlier, the company noted.

 

In June, Vinamilk became the first milk company of Vietnam to be licensed to ship dairy products to member countries of the Eurasian Economic Union (EAEU).

 

Source: Vietnam News Agency

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