Vietnam vegetable oil company eyes 4.8 trillion VND in revenue
The Vietnam Vegetable Oil Industry Corporation (Vocarimex) has set a target of 4.8 trillion VND (211.2 million USD) in revenue and 300 billion VND (13.2 million USD) in after-tax profit for 2018, heard the company’s shareholder meeting held on June 12.
Vocarimex has set a target of 4.8 trillion VND in revenue for 2018. (Photo: nhipcaudautu.vn)
HCM City (VNA) – The Vietnam Vegetable Oil Industry Corporation(Vocarimex) has set a target of 4.8 trillion VND (211.2 million USD) in revenueand 300 billion VND (13.2 million USD) in after-tax profit for 2018, heard thecompany’s shareholder meeting held on June 12.
The corporation’s revenue is expected to rise 9 percent year on year.
Vocarimex’s representative said that the company will focus on developing wholesale channels and exploring more export markets while enhancing access toorganisations using vegetable oil in their production process in an effort toexpand its markets.
It will join hands with KIDO Group, an integrated food and beverage consumercompany, to complete market development strategies for regions, and study todesign rational products, meeting demands of different groups of customers.
By increasing its presence in foreign markets and investing in specialisedproducts appealing to the consumers’ taste, Vocarimex eyes to become Vietnam’sleading exporter of vegetable oil.
Also, attending international trade fair willhelp the corporation to branch out its brand in target markets, break intopotential ones, and set up long-term and sustainable cooperative ties with itspartners.
According to the firm’s report in 2017, Vocarimex recorded a revenue of 4.38trillion VND (192.72 million USD) and 300 billion VND (13.2 million USD) in after-taxprofit, surpassing 50 percent of the set plan.
Last year, the company slashed 59 percent of its operation costs as compared to2016, or 212 billion VND (9.3 million USD).
Apart from paying due attention to investment restructuring in its jointventures, focusing on whole sale customers and export, the company has givenpriority to research and development activities.-VNA
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Vocarimex has set a target of 4.8 trillion VND in revenue for 2018.
