KIDO, subsidiaries report surging sales in H1

Wednesday, Jul 21, 2021 14:15

KIDO products at a HCM City supermarket. The company reported a rise of 34 per cent in revenues in the first half of the year. — VNS Photo

Food producer KIDO Group reported 34 per cent growth in revenues in the first half to nearly VND4.9 trillion (US$213 million).

Cooking oil sales contributed 83 per cent and food products, the rest.

Profit before tax surged 87 per cent year-on-year to VND342 billion ($14.9 million).

During the period it sought to expand sales through mini supermarkets and convenience stores, and developed its online channel, the company said.

KIDO’s subsidiaries also reported their results.

Tuong An Vegetable Oil Company reported a 36 per cent jump in revenues to nearly VND3 trillion ($130 million), but said due to the increasing global prices of raw materials, profits were down over 17 per cent to less than VND255 billion ($11 million).

The Viet Nam Industrial Oils Industry Corporation (Vocarimex) reported sales of VND743 billion ($342 million) and profits of VND40 billion ($1.7 million), both 20 per cent up.

KIDO Nha Be Company Ltd reported profits of VND5.8 billion ($252,000) on revenues of VND829 billion ($36 million), a 62 per cent rise.

KIDO said it plans to focus on meeting demand and preparing to bring new products to the market soon after the pandemic is controlled. — VNS

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