Customers buy KIDO products at a supermarket in HCM City. — Photo Courtesy KIDO Group

HCM CITY — KIDO Group has reported growth of nearly 48 per cent in net profit to VNĐ418 billion (US$18.2 million) for 2020.

Revenues were over VNĐ8.3 trillion.

Declaring its business results, the company said 2020 had been a very challenging and difficult year, but it quickly adjusted production plans and business activities.

It claimed it had optimised its distribution system, opening 15 transit warehouses across the country and kept diversifying its chilled foods and cooking oil products.

Last year marked a milestone for the company as it made a return to the snack industry after five years.

KIDO said it planned to continue focusing on product development strategies for various regions and markets to attract new customers and expanding distribution channels.

The main products it planned to focus on would be edible oil, ice cream and snacks in the mid- and high-priced categories, which offer high margins.

In 2021 it planned to introduce food and beverage products together with Vinamilk.

After starting as a confectionery company in 1993 it expanded into ice cream, yoghurt, cooking oil, desserts, and soft drinks.

It is a leading player in industries like ice cream (43.5 per cent market share) and cooking oil (over 30 per cent ). — VNS