AsemconnectVietnam - With an outstanding debt of VND 1,252.73 billion, International Dairy Products Joint Stock Company (code IDP - UPCoM) continues to plan to borrow from 3 banks with a limit of VND2,100 billion.

Specifically, International Dairy Products has just approved a plan to borrow capital, issue guarantees, and issue letters of credit at the Bank for Investment and Development of Vietnam - Ben Nghe Branch (BIDV) with a limit of VND700 billion; at the Joint Stock Commercial Bank for Foreign Trade of Vietnam - Phu Nhuan Branch with a limit of VND600 billion; and at the Vietnam Joint Stock Commercial Bank for Industry and Trade - Ho Chi Minh City Branch with a limit of VND800 billion.
The purpose of the loan is to supplement working capital, issue LCs, and guarantees to serve the production and business activities of milk and dairy products in the period of 2024-2025.
As of June 30, 2024, International Milk has a total outstanding loan balance of VND1,252.73 billion, equal to 40.9% of equity (at the beginning of the year, outstanding loan balance was VND776.22 billion and equal to 25.3% of total equity).
In terms of business activities, in the second quarter of 2024, International Milk recorded revenue of VND1,929.86 billion, an increase of 10% over the same period; profit after tax reached VND287.91 billion, an increase of 23% over the same period. In which, gross profit margin improved from 39.6% to 40.9%.
In the first half of 2024, International Milk recorded revenue of VND3,514.24 billion, up 5.5% over the same period and profit after tax of VND511.3 billion, up 13% over the first half of 2023.
In 2024, International Milk approved a business plan with revenue from VND7,800 to VND8,000 billion and profit after tax from VND850 to VND950 billion. Thus, at the end of the first half of 2024, International Milk completed 53.8% of the highest profit plan of VND950 billion.
N.Nga
Source: VITIC/Tinnhanhchungkhoan