Leading Vietnamese dairy product maker Vinamilk (VNM) said on Monday quarterly net profit jumped nearly 66% to 323 billion dong ($20 million).
Vietnam's second-largest listed company also said revenues in the first quarter ended in March were 1.38 trillion dong ($86 million), up 7% from a year earlier It gave no reason for the increase in a company statement.
Earlier this month the $2 billion company foreacst its 2006 net profit would rise by 22.7 percent to 898 billion dong ($55.7 million) and revenues by 11.5% to 7.43 trillion dong ($461 million).
Vinamilk's Chief Executive Mai Kieu Lien said in March the firm would list 8.85 million shares with a total face value of $5.5 million on the Singapore stock market this year.
Vinamilk, the short name for the Vietnam Dairy Products Company, based in Ho Chi Minh City, has 75% of the market for diary products and beverages. The firm also deals in real estate and provides warehousing and transport services.
Shares in Vinamilk last traded down 0.6% on Friday to close at 178,000 dong ($11), having shed 16% from its year high of 212,000 dong.
Source: Reuters
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