HNM Targets 19% Pretax Profit Rise in 2010, Outlook Good

HNX | Mon, Apr 26, 2010 08:39:00 AM Share this on

Hanoimilk JSC. (HNM) targeted a pre-tax profit of VND15.76 billion ($829,473) on the revenue of VND420 billion, up 19% and 33% from a year earlier, respectively, said the company in the resolution of its annual general meeting on April 24.

In the first quarter of this year, Hanoimilk  generated a net sales of VND78 billion, up 42% from last year. It expected to reach VND50 billion revenue in the fourth quarter.

In 2009, HNM made a net profit of VND12.86 billion on the revenue of VND314 billion, it said.

The milk producer will invest in some key projects including VND29 billion in Quang Minh milk producing factory, VND45.9 billion in yoghurt development program, VND13.6 billion in a program to expand to the Southern market, and VND8.4 billion to build the firm’s office in Me Linh, Vinh Phuc province from 2010 to 2015.

Hanoimilk decided not to pay 2009 dividend as it will spend 2009 net profit of VND12.86 to compensate for the VND49 billion loss in 2008.

Source: HNX