10:25 | 19/06/2017 Companies
The food group KIDO (KDC), formerly Kinh Do Corporation, has set a goal of 7.7 trillion VND (339.3 million USD) in revenue for 2017, three times higher than that of 2016.
|At the KDC's annual shareholders' meeting - Source: saigondautu.com.vn|
The firm expects to earn5.8 trillion VND (255.6 million USD) from packed food products and 1.9 trillion VND (83.7 million USD) from frozen food sales in the year.
Meanwhile, it aims to raise its corporation value in food and flavour sector, a new sector that the firm has joined since 2016, through the speeding up of cooperation with partners and focusing on merge and acquisition.
It will shake hands with major regional firms in the region to shorten production time and introduce high quality products. In August this year, it will partner with a Thai enterprise to produce high quality chili sauce.
Speaking at the firm’s annual shareholders’ meeting in Ho Chi Minh City recently, Nguyen Thi Xuan Lieu, KDC Deputy General Director, the KDC has entered the food processing sector by owning 50 percent of capital of Dabaco Food.
Last year, KDC enjoyed revenue of over 2.23 trillion VND (98.2 million USD), equivalent to 124 percent of its yearly target, and a pre-tax profit of more than 1.5 trillion VND (66.1 million VND).