Vinacafe aims to increase profit by 24% in 2018 and export 50,000 tons of coffee


Vinacafe expects revenue and profit to reach 3,808 billion and 95.7 billion, up nearly 3% and 24% compared to 2017.

In 2018, the Vietnam Coffee Corporation (Vinacafe) aims to increase the total coffee area to 16,638 hectares, an increase of 1% over the previous year. While the company will reduce the rice area from 4,163 hectares to 4,149 hectares.

Regarding export activities, the company sets a target of coffee export output reaching 50,000 tons, up 35% over the previous year. Imported fertilizers increased by 36% to 9,000 tons. Export turnover is expected to reach 92.25 million USD.

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Accordingly, the company plans to achieve revenue of VND 3,808 billion, an increase of 3% over the same period and profit of VND 95.7 billion, up 24%, of which parent company’s profit is 57 billion VND, up 1%. .

In 2017, Vinacafe achieved revenue of 2,596 billion VND, an increase of 41% compared to the previous year, but profit after tax decreased by nearly 54% to 53.7 billion VND, because other income decreased from 113 billion VND in 2016 to 23 billion VND. in 2017.

As of December 31, 2017, Vinacafe’s total assets were VND 2,329 billion, an increase of 7.6% compared to the beginning of the year. In which, short-term debt is 903 billion Dong, accounting for 39%; long-term debt 111.4 billion, accounting for 5%.

Lihai
* Source: Partner

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