KIDO Food (KDF) has reported a 17 per cent rise in revenues in the first seven months to VND938 billion (US$40.4 million).

In July they surged 80 per cent to over VND171 billion ($7.4 million), with the company attributing to soaring ice-cream sales.

In a release, KDF said: “Sales have grown strongly through modern retail channels including mini-marts in major cities. This new trend has helped the company widen its network.”

Products sold at this channel have jumped 40 per cent this year, it said.

Other reasons for the jump in revenues were the launch of new products and the good weather condition, it said.

The gross profit for the first seven months was VND570 billion ($24.6 million), up by 35 per cent year-on-year, with the July numbers skyrocketing by 128 per cent to VND109 billion ($4.7 million).

Profit before tax was VND155 billion ($6.7 million) against a full-year target of VND150 billion ($6.5 million).

KDF said it plans to further study consumer tastes to diversify its products expand its distribution system.

KDF is a subsidiary of food producer KIDO Group, which launched it in 2003 after acquiring the Wall’s ice-cream plant from Unilever.

KDF is now a giant in the chilled foods sector with a 40.2 per cent share of the ice-cream market. — VNS