Ho Chi Minh City-listed dairy producer Vinamilk estimates it will earnan after-tax profit of 931.07 billion VND (47.7 million USD) in thesecond quarter of this year, representing an increase of 65 percent overthe corresponding period in 2009.
In the first six months, the company earned an after-tax profit of 1.75trillion VND (92.01 million USD), up 67.1 percent over the same period ayear ago and representing more than half of its 2010 target.
The company's turnover is estimated to be 3.98 trillion VND (209.5million USD) in the second half of this year. In the first six months of2010, its turnover was 7.24 trillion VND, an increase of 52.6 percentover the same period in 2009.
The company'schairman, Mai Kieu Lien, said that high domestic demand on dairyproducts contributed to the company's well-performed results in thefirst half.
"Turnover from dairy products'consumption grew over 60 percent," she said, noting that dairyconsumption in the domestic market now is 14kg per person per year, incomparison to 6.5kg in 2000 and 9kg in 2005.
Sheestimated that consumption would grow much higher than its currentlymodest level, compared to neighbouring markets such as Thailand, whereit is twice that of Vietnam.
Lien said the companywould continue focusing on research and development to increase domesticdemand, while developing its marketing and distribution systems, Liensaid.
The company has targeted a turnover of 14.5trillion VND (743.6 million USD) and an after-tax profit of 2.7 trillionVND (138.5 million USD) this year, leading to a dividend cash paymentof 30 percent.
Vinamilk's shares, (VNM), on July 27 closed unchanged at 92,000 VND a piece./.
In the first six months, the company earned an after-tax profit of 1.75trillion VND (92.01 million USD), up 67.1 percent over the same period ayear ago and representing more than half of its 2010 target.
The company's turnover is estimated to be 3.98 trillion VND (209.5million USD) in the second half of this year. In the first six months of2010, its turnover was 7.24 trillion VND, an increase of 52.6 percentover the same period in 2009.
The company'schairman, Mai Kieu Lien, said that high domestic demand on dairyproducts contributed to the company's well-performed results in thefirst half.
"Turnover from dairy products'consumption grew over 60 percent," she said, noting that dairyconsumption in the domestic market now is 14kg per person per year, incomparison to 6.5kg in 2000 and 9kg in 2005.
Sheestimated that consumption would grow much higher than its currentlymodest level, compared to neighbouring markets such as Thailand, whereit is twice that of Vietnam.
Lien said the companywould continue focusing on research and development to increase domesticdemand, while developing its marketing and distribution systems, Liensaid.
The company has targeted a turnover of 14.5trillion VND (743.6 million USD) and an after-tax profit of 2.7 trillionVND (138.5 million USD) this year, leading to a dividend cash paymentof 30 percent.
Vinamilk's shares, (VNM), on July 27 closed unchanged at 92,000 VND a piece./.
