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Home / Economy / Trade - Service
Vinamilk set after-tax profit of US$473 million in 2018
Ngoc Thuy 11:44, 2018/03/22
Vietnam Diary Products Company (Vinamilk) set its revenue target in 2018 of VND55.5 trillion (US$2.4 billion), up 8.5% yearly, stated in its document in preparation for the upcoming annual shareholder meeting by the end of March.
Under the plan, Vinamilk expected its pre-tax profit of VND12.8 trillion (US$567 million) and after-tax profit of VND10.7 trillion (US$473 million), increasing 4.7% and 4.6% over the last year's period, respectively. 
 
Illustration photo.
Illustration photo.
In 2018, the Board of Directors agreed to pay dividends equivalent to at least 50% of the company's after-tax profit in cash. 

Additionally, Vinamilk is expected to issue bonus shares in rate of 5:1 (shareholder for each 5 owned shares will receive additional 1 share), which will not exceed 290.3 million shares.

After the issuance, Vinamilk 's charter capital is estimated to increase by the maximum of VND2.9 trillion (US$128 million), to VND17.4 trillion (US$769 million).

Vinamilk's after-tax profit in 2017 reached VND10.2 trillion (US$452 million), up 10% over 2016, according to the company's financial statement. Its revenue was posted at over VND51 trillion (US$2.2 billion), increasing 9% over the same period of last year, in which domestic sale accounted for VND43.5 trillion (US$1.9 billion), up 14% yearly. 

Vinamilk's share is currently being traded at range from VND200,000 - 214,000 (US$8.86 - 9.48) apiece, the company's highest value ever recorded yet. 

The State Capital Investment Corporation (SCIC) previously sold 48.33 million shares of Vinamilk, equivalent to 3.33% of charter capital with VND186,000 (US$8.24) per share, raising nearly VND9 trillion (US$398.7 million). 

According to SCIC, Vinamilk will continue under subject of divestment until 2020, in which the government is considering the divestment plan for 2018.  

The dairy industry posted revenue exceeding VND100 trillion (US$4.4 billion) last year, an increase of 10% over 2016, with Vinamilk accounting for 50% of the total number, according to the latest statistics.

The dairy market in 2020 is expected to double its size, reaching US$ 8.2 billion as Vietnam's population is projected to increase by 5 million people and personal income and dairy consumption are foreseen to increase at 15% and 7% compounded annual growth rate, respectively, according to in EU-Vietnam Business Network (EVBN)'s 2016 report.
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