Vietnam’s largest dairy producer eyes 5-percent revenue growth in 2022

Vinamilk products (Photo: VNA)

Hanoi (VNA) - Vinamilk, Vietnam’s largest dairy manufacturer, has set a target of the revenue growth of at least 5 percent to over 64 trillion VND (2.8 billion USD) in 2022, a rise from the 2.2 percent of last year.

From 2023, the rate is expected to rise to 7.7 percent a year, and the revenue will hit 86.2 trillion VND in 2026.

Last year, the dairy producer earned a total of 61 trillion VND, marking the first time it exceeded the 60 trillion VND mark, but only equal to 98 percent of the set target.

Notably, the growth rate in the fourth quarter reached nearly 10 percent – the highest recorded in a quarter in the past five years.

The domestic market continues contributing mostly to the company’s performance, with 84 percent of revenue and 83.8 percent of profits. However, its revenue growth rate last year was quite low, at only 0.7 percent. Meanwhile, the foreign market maintained a higher rate, with 10.5 percent. The company’s products are available in 57 countries and territories around the world./.

VNA