Kido Frozen Foods, a group company of food manufacturer Kido Group, announced on Tuesday that revenues were up 7.8 per cent in the first nine months of this year to VNĐ1.2 trillion (US$52.6 million).

The announcement came two days before the company’s listing on Upcom on Thursday.

Profit before tax was VNĐ168 billion ($7.3 million).

The company said this year it has invested a lot to widen its business and come up with new products. It has bought 10,000 freezers this year.

A company spokesperson said the investment to expand would have an impact on profits, but the investment is important to retain its position as the leader of the ice-cream market and enter the frozen-food market.

A report from Euromonitor said KDF’s market share has jumped from 38 per cent last year to 40 per cent now.

In the next quarter KDF plans to introduce many new products like sausages, canned foods and processed foods.

KDF was established in 2003 after KIDO acquired the Wall’s ice-cream plant from Unilever.

Its most popular brands are Merino and Celano.

Last year the company started producing a new line of products, frozen foods, with the first product being steamed wheat flour cake. — VNS