Kido Group enjoys strong H1 growth

By Thi Ha   July 21, 2020 | 02:18 pm GMT+7
Kido Group enjoys strong H1 growth
An ice-cream manufacturing chain seen in a factory of Kido Group Corporation. Photo courtesy of the corporation.

One of Vietnam's leading packaged food producers, Kido Group, saw net revenue and profit after tax in H1 of 2020 both surge by 14 percent year-on-year.

Kido's (KDC) financial report shows its net revenue and profit after tax in the first half of the year reached nearly VND3.7 trillion ($159.4 million) and VND129.6 billion (over $5.6 million), respectively.

The firm ascribed the increases partly to its decision to raise its minimart distribution coverage by 40 percent across big cities.

Kido saw revenues in the ice-cream segment, of which it holds a 41 percent market share according to a 2019 report by research firm Euromonitor, drop by 12 percent while that of cooking oil increased 23.5 percent year-on-year.

The company's profit before tax in the first half reached 54 percent of its whole-year target.

In the second half, the company stated that it would focus on launching new products tailored to the consumption trends of youth and products with high nutritional value.

KDC recorded a net revenue of VND7.2 trillion ($311 million) in 2019, down 5.2 percent compared to the previous year.

 
 
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