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August 14, 2008

Vietnam’s Vinamilk sees net profit rise 29.5%
Vietnam’s top dairy firm Vinamilk on Wednesday announced a net profit of 812 billion dong ($49.23 million) during the first seven months of this year, up 29.5 percent from the same period last year, said Reuters.

The Ho Chi Minh City-based company, the second-largest firm on the country’s main stock exchange, said its January to July unaudited revenues meanwhile rose 27.5 percent from a year earlier to 4.77 trillion dong.

Vinamilk’s net profit made up 71.2 percent of the company’s target for the whole of 2008, Chief Executive Officer Mai Kieu Lien was quoted as saying a statement to the exchange.

Last month, Vinamilk attributed its first-half net profit rise of 21 percent to robust exports soaring 149 percent while domestic demand also boosted sales by 23 percent.

The company has projected full-year net profit to rise more than 18 percent to 1.14 trillion dong in 2008 and revenues to jump 23 percent to 8.2 trillion dong.

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