Profit before tax was estimated at VND 90 billion, up 342.4% over the same period last year.
The company said that the approaching Lunar New Year is the peak sales period for essential goods. Accordingly, the preparation of goods for the Tet market has been prepared since the beginning of October.
Specifically, KIDO’s member companies in the essential food industry, including ice cream and cooking oil in the retail segment such as Tuong An, KIDO Nha Be, have to make forecasts about output and raw materials, to quickly boost production in order to promptly bring goods to distribution channels.
In addition, for quarantined areas according to government regulations, KIDO also conducted sales relocation activities, arranged suitable sales plans to supply goods to people during the Lunar New Year. .
Accordingly, Tuong An Company has had a strong growth in sales in products in the middle and high-end segments. The ice cream category grew from products in trends (trends), and products in the premium segment of the Celano brand.
This enterprise said that it has also promoted and exploited effectively a 2-channel system with 450,000 points of sale in the dry product industry and 120,000 points of sale in the cold industry.
This has helped KIDO’s market share in the ice cream sector increase from 41.4% in 2019 to 43.5% in 2020.
In 2021, KIDO Group targets net revenue of 11,500 billion, up 38% compared to 2020. Pre-tax profit target is 800 billion dong, up 91.5% compared to 2020.
Accordingly, the Group’s business lines set specific targets as follows:
Oil industry: KIDO will actively lead and develop diversified product portfolio, optimize supply chain model and strengthen branding. Through the extensive distribution platform and strong brand name of member companies such as Tuong An and KIDO Nha Be, Vocarimex, KIDO aims to expand to other food categories other than cooking oil.
Ice cream industry: The Group focuses on maintaining its No. 1 position and increasing market share; continue to expand the market; product development following the trend of young people; promoting products in the high-end segment and expanding the consumer audience.
Snacking: Snacking products, Mid-Autumn Festival, Fresh cakes, KIDO will continue to research and quickly bring to market products in Snacking industry; launch of fresh bakery products; promote the moon cake business.
Investment in services and trade is also expected to be booked into the Group’s revenue and profit in 2021.
In addition to the specific orientation of the existing products, according to the strategy of the Board of Directors, after restructuring the entire operations of the Group, KIDO will also launch joint venture products with Vinamilk in the field. soft drinks to serve consumers.
Joint venture products under the Vibev brand include: production and sales of healthy non-carbonated soft drinks (seed juices, herbal teas … expected to be released in April / 2021) and Ice Cream.
At the same time, KIDO also plans to do market research to quickly participate in the potential coffee market.
Source: vietnamfinance.vn – Translated by fintel.vn