17/07/2017 09:22 GMT+7 Email Print Like 0

Vinamilk eyes 80 trillion VND revenues by 2021

Hanoi, July 16 (VNA) – The Vietnam Dairy Products Joint-Stock Company (Vinamilk) sets a goal of earning 80 trillion VND (3.52 billion USD) in total revenue in 2021, according to its General Director Mai Kieu Lien. 

Revenue from the domestic market is expected at 61 trillion VND (2.68 billion USD), making up of 75 percent of the total, while the remaining at 19 trillion VND (866 million USD) is hoped to come from overseas markets. 

The company’s annual revenue growth rate in the domestic market is projected at 10 percent, she said. 

In 2017 only, Vinamilk targets total revenue of 51 trillion VND (2.26 billion USD), up 8 percent against the previous year and a post-tax profit of over 9.7 trillion VND (438.6 million USD), a year-on-year increase of 4 percent. 

To achieve the goals, Lien said the company has given priority to enhancing milk quality by opening an organic dairy farm in Da Lat city, the Central Highlands province of Lam Dong in the first months of this year. 

With total investment of over 200 billion VND (8.8 million USD), the farm has more than 500 cows in the initial stage, which will increase in the coming time. It is also Vietnam’s first organic dairy farm to be certificated with European standard.