Vinamilk holds nearly $1 billion in cash and deposits, marks third consecutive quarter of positive growth

VNM recorded a remarkable 24% increase in profits, reaching 2.351 trillion VND in the fourth quarter of 2023. This marks the third consecutive quarter of positive growth for VNM.

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Vinamilk Joint Stock Company (Vinamilk, VNM) has just announced the consolidated financial statements for the fourth quarter of 2023, reporting a slight 4% increase in revenue to VND 15,630.5 billion. A sharp decrease in costs helps gross profit to increase by 14% to VND 6,642 billion. Notably, the gross profit margin in the fourth quarter of 2023 of VNM has significantly improved, from 38.8% in the same period last year to over 42.5%.

Deducting expenses, VNM achieved a 24% growth in profit to VND 2,351 billion in the fourth quarter of 2023. This is the third consecutive profitable quarter for Vinamilk.

For the whole year of 2023, the Company recorded revenue of VND 60,479 billion – a slight increase compared to 2022. In which, the domestic market still accounted for the majority with a contribution of over VND 50,617 billion, while the international market contributed nearly VND 9,751.5 billion. Deducting expenses, VNM’s post-tax profit reached VND 9,019 billion – a 5% increase compared to 2022.

SOURCEcafef
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