Vinamilk reports 2019 after-tax profit of nearly $448 million, completing yearly target

However, in the final quarter of 2019, Vietnam Dairy Products JSC, one of Vietnam’s leading dairy producer reported an after-tax profit of $115.3 million, down 5% from fourth quarter of 2018, according to company’s consolidated earning report.

In the quarter, the dairy producer’s revenue grew nearly 10% to $604 million. Profit drop was the result of increasing costs, company says.

Revenue from financial activities jumped by 31% to $9.9 million while expenses nearly tripled to $3 million.

As of end-2019, the dairy company’s total asset stood at $1.89 billion, an increase of $311 million compared to the beginning of the year. Vinamilk spent a total of $332.5 million to pay dividends, with 15% of the remaining dividends in 2018 and 30% of 2019.