Hanoi, February 23 (VNA) – Food producer KIDO Group (KDC)has set a goal of reeling in revenue of 11.5 trillion VND (501.1 million USD) thisyear, of which pre-tax profit stands at 800 billion VND.
The figures are higher than those of 2020 by 38 and 91.5percent respectively.
Toward the target, plans have been in place to develop eachsector operated by the group.
Accordingly, the group will diversify and strengthen thebrands of its cooking oil products, while keeping its leading place and sharein the ice cream market.
Regarding snack production, research is underway for thelaunch of new snacks, moon cakes, and fresh bread.
KIDO is also studying the potential coffee market for thegain of a future foothold as soon as possible.
Recently, the group has announced that it is entering thebeverage industry by setting up a joint venture with dairy giant Vinamilk. Thetwo companies signed a memorandum of understanding to set up a joint venture - the Vinamilk-Kido Beverage Joint Venture Company Ltd (Vibev), with Vinamilk holding51 percent and KDC 49 percent. The new brand is expected to debut inApril.
In January alone, KIDO posted about 1.1 trillion VND in revenue, doubling the figure of the same period last year, and 90 billion VND in pre-tax profit, up 342 percent year-on-year.
The group attributed the substantial growth to impressive salesof cooking oil and confectionary products serving the Lunar New Year festival (Tet)./.
VNA