Food company KIDO posts 138 pct surge in profit

By Phuong Dong April 19, 2021 | 12:43 am PT

KIDO Group Corporation has posted a 138 percent jump in pre-tax profit in Q1 to VND150 billion ($6.5 million).

Tuong An Cooking Oil, the product of KIDO Group’s subsidiary Tuong An Vegetable Oil JSC, being produced in a factory in HCMC. Photo courtesy of KIDO Group Corporation.

Tuong An Cooking Oil, a product of KIDO Group subsidiary Tuong An Vegetable Oil JSC, is produced in a HCMC factory. Photo courtesy of KIDO Group Corporation.

Its revenue rose 35 percent in the first quarter, reaching VND2.3 trillion. Cooking oil accounted for 87 percent of its total revenues, with the rest comprising ice cream and other sales.

It attributed the two-digits rise in revenues to the surge in demand for its products for the Lunar New Year holidays (Tet) in February.

It has set the targets of VND11.5 trillion in revenues and VND800 billion in pre-tax profit this year, a year-on-year increase of 38 and 92 percent, respectively.