Vinamilk Posts Strong 2009 Results

Leading Vietnamese dairy group Vinamilk Dairy Products Joint Stock Company has announced strong financial results for FY09, ending in December. Shrugging off the impact of economic growth that was weaker than recent average, the company increased its sales by 29.1% year-on-year (y-o-y), eclipsing the 28.2% y-o-y sales growth achieved in 2008. Operating income for the year rose by 97.4% to VND2.6trn (US$141mn), most likely due to lower raw material prices, while net profit increased by 90% to reach VND2.4trn

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