Kido : earns sweet returns from confectionery goods, cakes

Although it has been just over a month that the Kido Group has returned to the snacking industry, the company has earned dozens of billions of Vietnam dong in profit from confectionery and cake products, with the company expecting its overall profit from January to September to reach VND338 billion, up 49.4% compared with the same period last year.

Its revenue is estimated at VND5.96 trillion, up 17.3% year-on-year.

To minimize the impact of Covid-19, the company has kept a close eye on the situation to come up with proper and prompt solutions, such as launching new products that focus on helping consumers improve their health and immune system.

Between January and September, the company's revenue from ice cream decreased by only 9.8%, while revenue from cooking oil surged by 30% year-on-year.

In the third quarter, Kido returned to the snacking industry after it withdrew from this market five years ago, with the key product being Kingdom-branded mooncake.

During the mid-autumn season, the company expects to sell 4 million mooncakes, earning VND160 billion in revenue and VND36 billion in profit.

Talking to The Saigon Times, Tran Le Nguyen, general director of Kido Group, said many shareholders, partners and distributors have encouraged the company to return to the snacking industry. The company has set a target of becoming the second largest supplier of confectionery goods and cakes in Vietnam after two years.

The Saigon times