During its restructure last year, KDC sold 80 per cent of its snack business to a US company and called a halt to production of instant noodles, cooking oil, and coffee. — Photo nld

HCM CITY (Biz Hub) — Giant confectioner Kinh Do Corporation reported an over 9 per cent rise in after-tax profit for 2014.

In dong terms it rose to VND547 billion (US$26 million) from VND500 billion ($23.8 million) in 2013.

Turnover increased by nearly 9.3 per cent to VND5 trillion ($238 million), up from 6.5 per cent.

In a media release, the corporation said that the results show things are on the right track after its restructure last year and that there has been good feedback from customers about its new product, noodles.

During its restructure last year, KDC sold 80 per cent of its snack business to a US company and called a halt to production of instant noodles, cooking oil, and coffee.

This year, it said, it would bring more products to the market and strengthen co-operation with Vocarimex to develop the cooking oil segment.

In another development, the corporation said Lunar New Year turnover was 15 per cent higher than last year thanks to strong demand. — VNS