Tuesday,  Nov 20, 2018,20:30 (GMT+7) 0 0
Vocarimex looks to 9% sales growth
By Le Hoang
Wednesday,  Jun 13, 2018,18:33 (GMT+7)

Vocarimex looks to 9% sales growth

By Le Hoang

Nguyen Thi Xuan Lieu and other board members are seen at the annual general meeting of Vocarimex - PHOTO: HUNG LE

HCMC – Vietnam Vegetable Oils Industry Corporation (Vocarimex) expects its 2018 sales will rise 9% 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% 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% 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% from now to 2022, fueled by sectors such as instant noodle, confectionary and food processing.

Tran Kim Thanh, chairman 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% 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.

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