KIDO reports surge in profits

A production line at KIDO Group. The company reported 34.5 per cent growth in revenues in the first quarter of this year. – VNS Photo

HCM CITY Food producer KIDO Group reported a 34.5 per cent year-on-year rise in net revenues in the first quarter to over VNĐ2.3 trillion (US$101 million).

Pre-tax profit was up 138 per cent to more than VNĐ150.2 billion ($6.5 million).

The company attributed the sharp rise to contribution system development and diversified products during the Lunar New Year festival in mid-February.

Besides selling at traditional markets, supermarkets and convenience stores, it also set up sales counters in quarantine areas.

Also during the Lunar New year, it introduced many new products.

Cooking oil accounted for 87 per cent of its sales.

This year the company targets revenues of VNĐ11.5 trillion ($504 million), a 38 per cent increase, and profits of VNĐ800 billion ($35 million), up 91.5 per cent. — VNS

Petrol prices down in latest adjustment

Economy

NA approves fuel environmental tax cut for another year

Economy

Market cautious as liquidity drops significantly

Economy

HCM City set to smash $70b GRDP milestone in 2024

Economy

Việt Nam and South Korea sign mutual recognition agreement on AEO

Economy

Việt Nam's aviation industry soars towards growth

More on this story

Economy

Shares hit fresh peak on strong buying force

Shares hit a fresh peak on Monday as strong buying force bolstered market sentiment.

Economy

Steel producers post outstanding results in Q1 on higher rebar price

The surge of steel price since the beginning of 2021 helped many steel producers record good performance in the first quarter.

Economy

Banks watch on loans to potentially risky areas

State Bank of Việt Nam (SBV)’s governor Nguyễn Thị Hồng has directed commercial banks to scrutinise whether a large amount of bank loans in the first quarter flew into potentially risky areas or not to timely take suitable measures.

Economy

Domestic electronic firms urged to enhance capacity, improve linkage with FDI

Enhancing the linkage between domestic and foreign-direct-investment (FDI) electronic enterprises would be an important solution to promote the development of this industry which were now dominated by the FDI sector.

Economy

High-tech poultry incubation factory inaugurated in Tây Ninh

With a total investment of VNĐ200 billion (US$8.66 million), the factory has a designed capacity of over 19 million chicks per year in the first stage, and 38.4 million chicks per year in the second stage.

Economy

Việt Nam’s first high-potency drugs zone opens in Bình Dương

Davipharm, a member of Adamed Group and manufacturer of generic drugs, has set up a high-potency drugs zone for the production of cytotoxic/cytostatic oral solids in Bình Dương, the first of its kind in Việt Nam.

Economy

Firms to get help to expand rice export markets

In order to take advantage of FTAs and increase the Vietnamese rice export market share at more competitive prices, the Ministry of Industry and Trade will continue to co-ordinate with ministries, branches and the Việt Nam Food Association to help businesses effectively implement the deals and make the most of markets such as South Korea and the EU.