March 20 2007 - Vedan Group, the Vietnamese producer of monosodium glutamate and glutamic acid, has reported a 12.7% year-on-year increase in 2006 sales, to USD 290.7 million. Net profit increased 37% to USD 10.9 million, the company states in its yearly earnings report.
MSG and GA, which together represent 79.4% of the Group’s total turnover, registered respective growth of 1.5% and 173.3% over the year, reaching USD 189.5 million and USD 41.3 million.
‘In light of the persistently narrow margin of lysine, the Group shifted one-third of its lysine production capacity to glutamic acid in 2006’, the report says.
Turnover from starch operations rose from USD 145,000 in 2005 to USD 4.4 million, following the acquisition in late 2005 of the Ve-Yu starch factory in Gia Lai province, Vietnam. Modified starch, another Vedan core product, saw sales increase 11.5% year on year to USD 17 million.