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Food producer KIDO targets 43% increase in profit

Update: April, 09/2018 - 15:00
A cake production line in KIDO Group’s factory. — Photo
Viet Nam News

HÀ NỘI — Foods and flavours producer KIDO Group (KDC) plans to earn VNĐ800 billion (US$35.1 million) in pre-tax profit in 2018, up 43 per cent year-on-year, the group has announced.

At a meeting held on April 6, KIDO Group, listed on Ho Chi Minh Stock Exchange under the code KDC, revealed that it targeted a revenue of VNĐ12 trillion in 2018, up 71 per cent compared to last year.

The company also plans to pay cash dividend to shareholders at the rate of 16 per cent in 2018.

Meanwhile, the group’s Board of Directors submitted to the shareholders a plan to increase the ownership of foreign investors in the company to 100 per cent, while preparing for the necessary procedures to adjust the company’s business lines if these are restricted to the ownership ratio of foreign investors.

KIDO Group recorded a revenue of VNĐ7 trillion in 2017, more than three times the figure in 2016. It’s pre-tax profit in 2017 reached VNĐ561 billion, while post-tax profit touched VNĐ440 billion.

As of December 31, 2017, the total assets of the group reached VNĐ11.3 trillion, an increase of VNĐ1.9 billion compared to the beginning of the year. Total debt was estimated at nearly VNĐ3.5 trillion, up by VNĐ631 billion compared to the beginning of the year. — VNS


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