Vietnam Dairy Products Company (Vinamilk) announced an estimated revenue of VND13,977 billion (nearly US$614 million) and net profit of VND2,688 billion (about US$118 million) in the third quarter. Compared with the same period last year, Vinamilk's revenue increased by 8.4% and profit increased by 5.5%.
For the first 9 months of 2017, Vinamilk was estimated to reach VND38,758 billion (about US$1.7 billion) in revenue and VND8,545 billion (US$375 million) in after tax profit. Compared with the first 9 months of last year, its revenue increased by 10.3% and profit increased by 13.6%.
The target of Vinamilk in 2017 is VND51 trillion (more than US$2.2 billion) in revenue and VND9.7 trillion (US$426 million) in after tax profit. After 9 months, the company has reached 87% of its profit plan.
In a recent analysis, Ho Chi Minh City Securities Corporation (HSC) estimated that Vinamilk's market share in the liquid milk, the milk powder and the yogurt drink segment increased significantly compared with the same period last year. However, this company lost its market share in condensed milk and regular yogurt.
According to HSC, Vinamilk's sales points increased to 240,000 points that grew by 9.1% from the beginning of the year. Since the beginning of 2016, Vinamilk has successfully introduced more than 30 new products including new drinking yoghurt and organic fresh milk.
HSC forecasted that the Vietnamese dairy market will grow by 11.7% this year and further increase by 10% in 2018.
