Vinamilk's 3Q net profit grows 5.1% to $115 million

The company recorded 4% annual growth in revenue, which reached $616.8 million for the three months that ended in September.

Revenue from financial activities increased by 11% to $9.1 million while financial expenses increased by 49% to $2 million.

Company’s selling expenses in the quarter fell by 4% to $144.6 million. Vinamilk spent heavily on advertising, market research and promotion and product marketing.

The company said in its consolidated financial statement released on Wednesday that net profit for the nine months that ended in September grew 6% to $368 million from $1.85 billion revenue, an increase of 6.4% from a year ago.  

Domestic sales accounted for a large proportion of Vinamilk's total revenue. Export revenue also increased by 9% to $275 million.

The Vietnam’s biggest dairy producer has completed 80% of 2019 profit goal. Sale costs were cut by 3.5%.

As of September 30, the company's total assets reached $1.76 billion, an increase of 7% compared to the beginning of the year.