Vocarimex looks to 9pct sales growth

15-Jun-2018 Intellasia | The Saigon Times | 6:02 AM Print This Post

Vietnam Vegetable Oils Industry Corporation (Vocarimex) expects its 2018 sales will rise 9 percent against last year to VND4.8 trillion, the firm said at its annual general meeting on June 12.

Nguyen Thi Xuan Lieu, a board member of Vocarimex, said the firm was aiming for a 10 percent profit increase this year, with pre-tax profit projected to stay unchanged from last year, at VND300 billion.

With sales forecast to grow 8-11 percent in the 2016-2022 period, Lieu said the company would drive up export and look for corporate clients that are using vegetable oils for their production.

According to Euromonitor, the edible oil market holds annual growth potential of 8-11 percent from now to 2022, fueled by sectors such as instant noodle, confectionary and food processing.

Tran Kim Thanh, chair of both KIDO and Vocarimex, said Vocarimex will focus on supplying vegetable oils to both firms and retailers.

Vocarimex is expected to pay a 12 percent dividend in 2018 and move from UPCoM, where shares of unlisted public companies are traded, to the Hochiminh Stock Exchange (HOSE), the leading market for major listed companies in Vietnam.



Category: Stocks, Vietnam

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