KDF eyes leadership of frozen foods market

Tuesday, Jun 19, 2018 08:03

KDF’s annual general meeting was held in HCM City on June 18. The company, the leader in the ice cream segment, has set its sights on being top dog in the frozen food segment. — VNS Photo Thu Ngan

KIDO Frozen Foods Joint Stock Company has told its shareholders that it seeks to become the leader of the Vietnamese frozen food market.

Speaking at the annual general meeting in HCM City on Monday, Tran Thi Thuy Linh, its deputy general director, said this year the company would explore the three main segments, frozen foods, chilled foods and ambient foods.

The potential is huge since the market is now worth over VND18 trillion (US$789 million).

The company seeks to increase revenues by nearly 14 per cent this year to VND1.7 trillion ($74 million) and profits by 12 per cent to VND195 billion ($8.5 million).

It also plans to diversify its ice cream and frozen dessert products to retain its segment leadership besides exploring the luxury market.

In the chilled and ambient food segments, it will introduce more products to meet a range of tastes in various regions.

This year, it will also focus on expanding its distribution system.

The company plans to pay a dividend of 14 per cent in cash this year and list on the HCM Stock Exchange.

The company attributed last year’s success to its efforts to expand the market and introduce new products.

KDF was the leader of the ice-cream market with its market share jumping from 38 per cent in 2016 to 40.2 per cent last year as sales grew by 15.7 per cent.

Its frozen food sales grew by nearly 77 per cent. — VNS

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