Vinamilk sees revenue, profit up slightly despite COVID-19

Vinamilk saw its revenue and profit for the 1st half of 2020 to rise slightly by 3-7% from a year ago despite the COVID-19 pandemic.
Vinamilk CEO Mai Kieu Lie said that modest earnings growth this year was attributed to the downturn of income brought by the school milk programme as schools were shut to cope with the pandemic. She added, “When schools re-opened in May, the situation became better but performance was still below the expectation.”
Meanwhile, a new dairy farm in Qu?ng Nga Province will come into operation this year and Vinamilk is planning to build more farms in Dong Nai Province, the centrally-run city of Can Tho, and in Laos.
In addition, Vinamilk is also looking into the development of new products for dietary customers. This year, Vinamilk is planning to launch a coffee and dining store chain with the brand ‘i-Cafe’ store was opened in 2019 in HCMC. The chain will be enlarged this year. The chain will be developed based on Vinamilk’s milk retail system with 430 stores being allocated across the country, added Lie.
In another development, Vinamilk has also partnered with Kido to market ice cream and beverages.