Business

Kinh Do Corp eyes bigger market share

The leading domestic confectionery producer, Kinh Do Corporation (KDC), said it would expand production in new categories of noodles, coffee and edible oil in an aim to enlarge its market share.
The leading domestic confectionery producer, Kinh Do Corporation (KDC),said it would expand production in new categories of noodles, coffee andedible oil in an aim to enlarge its market share.

At its annualshareholders' meeting in Ho Chi Minh City on June 30, KDC Vice PresidentTran Quoc Viet said the growth of the confectionery industry wasexpected to be low in coming years, but food consumption in Vietnam, as adeveloping country, would remain stable.

Viet added that KDCwould continue to focus on growth and expansion in the coming yearthrough diversification into new categories, countries and consumers.

He said that KDC would work with Sai Gon Vewong to sell a variety of instant noodle products in Vietnam.

Thecompany will introduce its first new product in the third quarter, withthe goal of becoming one of the top three players in the instant noodlemarket.

It will also become a strategic shareholder of Vocarimexand Phin Deli through an equitisation process to make edible oil andcoffee.

To fulfill the goal, KDC will shift all of its activitiesrelated to confectionary production to the Kinh Do Binh DuongCorporation.

After restructuring the company, KDC will operate ineight main categories, including confectionary, ice cream and dairy,noodles, oil, coffee and retail.

Last year, the corporationposted revenue of nearly 4.6 trillion VND (219 million USD) and apre-tax profit of 619 billion VND (29 million USD).

For 2014, itis expected to reach revenue of 5.2 trillion VND (248 million USD) andpre-tax profit of 660 billion VND (31 million USD), up by 13 percent and6.6 percent year-on-year, respectively.

This year, KDC will share dividends by cash at a rate of 20 percent per share.-VNA
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