Business

KIDO Corporation plans big for 2017

The food group KIDO (KDC), formerly Kinh Do Corporation, has set a goal of 7.7 trillion VND (339.3 million USD) in revenue for 2017, three times higher than that of 2016.
KIDO Corporation plans big for 2017 ảnh 1At the KDC's annual shareholders' meeting (Source: saigondautu.com.vn)
HCM City (VNA) – The food group KIDO (KDC),formerly Kinh Do Corporation, has set a goal of 7.7 trillion VND (339.3 millionUSD) in revenue for 2017, three times higher than that of 2016.

The firm expects to earn5.8 trillion VND (255.6 million USD)from packed food products and 1.9 trillion VND (83.7 million USD) from frozenfood sales in the year.

Meanwhile, it aims to raise its corporation value in foodand flavour sector, a new sector that the firm has joinedsince 2016, through the speeding up of cooperation with partners and focusingon merge and acquisition.

It will shake hands with major regional firms in the regionto shorten production time and introduce high quality products. In August thisyear, it will partner with a Thai enterprise to produce high quality chili sauce.

Speaking at the firm’s annual shareholders’ meeting in HoChi Minh City recently, Nguyen Thi Xuan Lieu, KDC Deputy General Director, theKDC has entered the food processing sector by owning 50 percent of capital ofDabaco Food.

Last year, KDC enjoyed revenue of over 2.23 trillion VND(98.2 million USD), equivalent to 124 percent of its yearly target, and apre-tax profit of more than 1.5 trillion VND (66.1 million VND).-VNA
VNA
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