How is the oldest dairy company in Vietnam that just went public doing?

Moc Chau Dairy Cattle Breeding Joint Stock Company (Moc Chau Milk, stock code: MCM) has just announced its financial report for the second quarter of 2024.

Accordingly, the company's net revenue reached VND809 billion, up 12% over the same period last year. However, after-tax profit decreased by 39% over the same period, reaching only VND56.3 billion.

Financial operating revenue in the second quarter of 2024 decreased by 50.6% year-on-year due to lower bank deposit interest rates and the company increasing sales expenses to enhance marketing and advertising activities and expand its distribution network.

In the first 6 months of 2024, this enterprise recorded net revenue of VND 1,434 billion and profit after tax of VND 106 billion, down 6% and 45.3% respectively over the same period last year.

As of the end of the second quarter of 2024, Moc Chau Milk's cash and cash equivalents portfolio was worth about VND 54.6 billion (a slight decrease compared to the beginning of the year), of which cash equivalents (short-term investments) accounted for 99.8%.

As of June 30, 2024, this enterprise has 795 employees, an increase of 20 people compared to the beginning of the year.

On the stock market, at the end of June 2024, 110 million MCM shares were officially traded on the HOSE floor.

MCM stock price movements in the past month Source: Fireant

Since then, MCM shares have fluctuated slightly and the current price is 38,500 VND/share. Compared to the reference price on the first trading day on the HOSE floor of 42,800 VND/share, this price has decreased by more than 10%.

However, compared to the beginning of 2024, MCM shares increased slightly by 7%.

Moc Chau Milk, formerly known as Moc Chau Military Farm, was established in 1958. This is the first unit in the livestock and industrial milk production industry in Vietnam.

In 2016, Moc Chau Milk was 100% equitized, in which GTNFoods Joint Stock Company (stock code: GTN) owned 51%.

In early 2020, Moc Chau Milk officially "joined the same house" with Vietnam Dairy Products Joint Stock Company (Vinamilk, stock code: VNM) after the merger of GTNFoods into Vietnam Livestock Corporation (Vilico, stock code: VLC).

Moc Chau Milk's charter capital as of the end of June 2024 was VND 1,100 billion, of which Vietnam Livestock Corporation held 59.3% of shares, other shareholders 31.85% and Vietnam Dairy Products Joint Stock Company 8.85%.

Currently, Ms. Mai Kieu Lien, General Director and member of the Board of Directors of Vinamilk, is the Chairwoman of the Board of Directors of Moc Chau Milk.

Source: https://nld.com.vn/cong-ty-sua-lau-doi-nhat-viet-nam-vua-len-san-chung-khoan-dang-lam-an-ra-sao-196240721235013903.htm