Bibica Joint Stock Company plans to earn revenue of VND1.4 trillion (US$62 million) in 2017, a year-on-year increase of 9.8 per cent.

The company has also targeted profit after tax of VND86.6 billion and dividend payment from 12 to 18 per cent, it was reported at the company’s annual shareholder meeting in HCM City today.

Truong Phu Chien, Bibica’s deputy chairman, said in 2016, the company focused on improving the quality of moon cake, thereby contributing to this product’s net sales of VND100 billion (3 per cent higher than the plan).

In addition, Bibica also deployed Material Flow Cost Accounting (MFCA) at its factories to reduce production costs from 1.7 per cent in 2015 to 1.6 per cent in 2016 and successfully developed "shop key "solutions, exceeding 34 per cent of the sales growth over the same period.

In 2016, Bibica hit revenue of VND1.26 trillion, up 7.8 per cent against the same period last year, and exceeded 1 per cent of the target. Moreover, the firm’s after-tax profit reached over VND81.2 billion (exceeding 24.8 per cent of the plan).

Bibica is one of the leading confectionery makers in Viet Nam, with popular brands such as Hura, Choco Bella, Orienko, Zoo and One Two Three.

Currently, Bibica has more than 200 products which are distributed at some 1,200 exclusive distributors, more than 115,500 retail outlets and 500 supermarkets and convenience stores nationwide.

In addition, Bibica exports its products to more than 15 countries and regions around the world. — VNS