Vinamilk saw its revenue and profit go down compared to the same period last year, totalling 10.7 trillion VND and 2.6 trillion VND, respectively, in the last three months. (Source: bandodiadiem.com)

Hanoi (VNA)
- Dairy giant Vinamilk reported a fall of 9 percent in its consolidated net profit in the first quarter of this year, reaching over 2.68 trillion VND (118 million USD).

Its total net sales increased slightly to 12.1 trillion VND during the period, but the cost of goods sold rose by 6.4 percent to over 6.6 trillion VND, which drove the company’s profit down.

The parent company also saw its revenue and profit go down compared to the same period last year, totalling 10.7 trillion VND and 2.6 trillion VND, respectively, in the last three months.

By the end of March, Vinamilk achieved 22 percent of its revenue target of 55.5 trillion VND and 25 percent of its net profit goal of 10.75 trillion VND set for this year.

The company’s shares have slipped by 13 percent from its all-time high of 214,000 VND per share on March 16 this year, closing May 2 at 184,500 VND per share on HCM Stock Exchange. It also lost its top position in the stock market as the largest company by market value to private conglomerate Vingroup.

Vinamilk’s market cap was 267.8 trillion VND (11.75 billion USD) on March 2, while Vingroup’s market value reached 329.7 trillion VND.-VNA