Vinamilk says 11-month profit exceeds 2007 target

HANOI, Dec 14 (Reuters) - Vinamilk VNM.HM, Vietnam's top dairy firm, made a gross profit of 923 billion dong ($57.3 million) in the first 11 months, 2.8 percent more than the target for the whole of 2007, it said in a statement seen on Friday.

The company, the second largest among the 130 companies listed on the Ho Chi Minh Stock Exchange .VNI, did not give a net profit figure and gave no comparisons for the same period last year.

Vinamilk's statement, issued on its Web site (www.vinamilk.com.vn), said it had revenues of 6.22 trillion dong in the first 11 months, 83.7 percent of the target for the whole of this year. The results were unaudited, it said.

Vinamilk had aimed to raise its annual profit by 22.7 percent to 898 billion dong this year on revenues of 7.43 trillion dong.

Shares in Vinamilk fell 1.81 percent to close at 163,000 dong ($10.11) on the Ho Chi Minh Stock Exchange .VNI on Friday, valuing the company at around $1.8 billion.

The Ho Chi Minh City-based firm has hired a consultant to prepare for a listing on the Singapore Exchange (SGXL.SI: Quote, Profile, Research, Stock Buzz) expected in 2008, but no concrete date has been set. ($1=16,116 dong) (Reporting by Ho Binh Minh; Editing by Michael Battye)