Revenue and profit before tax plan Kido set out 38% and 91.5% growth compared to the previous year, the highest in 4 years.
Kido Group (KDC) announced its target for net sales and pre-tax profit this year to be 11,500 billion and 800 billion dong, respectively, up 38 percent and 91.5 percent year-on-year. In 2020, Kido collects more than 8,300 billion VND and pre-tax profit is 330 billion VND, exceeding 1% of revenue plan and 26.6% of profit plan.
Thanks to the group restructuring, merging member companies and returning to confectionery market during the Lunar New Year season, the company earned about 1,100 billion dong in the first month of the year, double the same period. Profit before tax also increased 342%, reaching 90 billion.
According to Kido’s management, this year the edible oil industry continues to diversify product portfolio, optimize supply chain and build brand name. The ice cream industry currently leads the market with 43.5%, so it is responsible for maintaining this position through market expansion, product development in the high-end segment and following young people’s trends. The company is also researching more snacks, fresh cakes, moon cakes … with the expectation that this category will contribute a large part of revenue this year.
Kido is exploring to enter the coffee market, besides the plan to launch Vibev-branded beverage products such as herbal tea, water from seeds … to launch in April. a joint venture between the company and Vinamilk with a total capital of 400 billion dong. In which, Kido holds 49% and Vinamilk holds 51%.