Vocarimex reports roesy after acquisition

Thursday, Jul 26, 2018 08:26

A Vocarimex oil mill. The company reported revenue of VND2.1 trillion in H1 2018. VNS Photo

The Viet Nam Vegetable Oils Industry Corporation (Vocarimex) has seen a significant improvement in performance in the one year since it was acquired by giant food producer KIDO Group.

It reported that in the first half of this year revenues increased by over 6 per cent year-on-year to VND2.1 trillion (US$92.1 million).

Profit before tax was VND138 billion ($6 million), representing 46 per cent of the year’s profit target.

The company attributed the improved results to a transformation to focus on industrial customers and exports.

Revenues from industrial customers increased by 60 per cent and from exports by 31 per cent.

The company plans to seek more industrial customers as well as export markets.

As a member of KIDO Group, Vocarimex has taken advantage of the strong infrastructure and distribution system available.

A large cooking oil producer, the company was established in 1976. — VNS

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