HNM

Hanoimilk (HNM) posted a 54% drop in Q1 2026 net profit to VND 3.7B, driven by a 2.5x rise in interest expense and a 30% increase in selling costs, while a VND 4.2B support payment from partner Tetrapark that boosted Q1 2025 did not recur. The core branded dairy business showed margin improvement, but financial leverage and marketing spend are weighing on bottom-line results.