Vietnam: Vinamilk, with a stake in a brewery with SABMiller, reports rising sales in Q1

Vinamilk, the Vietnamese dairy group, has posted rising sales and earnings for the first quarter of its financial year, Thanhniennews reported April 17.

The company said Monday that pre-tax profits had reached VND323 billion (US$20.1m) for the three months to 30 March, up from VND195 billion a year earlier.

Turnover also rose, Vinamilk said, hitting VND1.4 billion during the first quarter, compared to VND1.3 billion last year.

Blue-chip Vinamilk accounts for some 75 percent of the Vietnamese market for milk and milk-based products.

The company also has a stake in a brewing joint venture in Vietnam alongside beer giant SABMiller.

Shareholders of the second-largest listed company have approved the listing of 5 percent of the company in Singapore.

18 April, 2007