Kido reports slide in Q4 sales

Friday, Feb 19, 2016 08:10

HCM CITY (Biz Hub) — Foodstuff producer Kido Joint Stock Company (KDC) has reported a 45 per cent fall in pre-tax profit for the fourth quarter of last year.

The profit fell to VND68 billion (US$3.1 million) on revenues of VND442 billion ($20,300).

The company attributed the downturn to its investments in new business segments like cooking oil, instant noodles, and other foodstuffs.

Besides, during the quarter the company did not get a big contribution from its snack business since it had sold 80 per cent of it to Mondelez earlier last year.

For full year 2015, KDC reported after-tax profit of nearly VND5.3 trillion ($243 million).

Last year the company spent VND4.9 trillion ($224 million) on paying dividends and VND1.3 trillion ($59 million) on buying treasury stocks. — VNS

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